On October 30, Strive fell 8.03% in Regular Trading, trading at $25.32/share, with turnover of $112 million.
The move closely followed the company’s announcement that it had signed an agreement to issue and sell up to $1 billion of 15% Series A perpetual SATS preferred stock through an at-the-market program, a financing step that appears to have triggered selling pressure.
According to the company’s disclosure, net proceeds may be used for general corporate purposes including bitcoin and bitcoin-related purchases, working capital, income-generating assets, capital expenditures, buybacks, acquisitions, dividends, or repayment of future debt. The announcement came shortly after Strive completed a 7 million share SATS preferred stock IPO that raised $630 million. Separately, the company disclosed that it bought 6,182 bitcoin at an average price of about $82,732 between October 17 and 23, lifting total holdings to 43,000 bitcoin. While some analysts recently raised price targets, the market reaction indicates concern over the scale, cost, and potential dilution effects of the new preferred financing plan.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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