Why Strive (ASST) Extended Losses, Dropped 17.86%

We recently published 10 Big Names Investors Are Dumping. Strive Inc. (NASDAQ:ASST) is one of the worst performers on Wednesday.

Strive Inc., formerly known as Asset Entities, fell for a fourth consecutive day on Wednesday, dropping 17.86 percent to close at $3.68 apiece as investors continued to book profits amid last week’s steep surge, which can be attributed to a $1.5 billion Bitcoin strategy.

Strive Inc. (NASDAQ:ASST) is a newly formed company as a result of the merger between Asset Entities Inc. and Strive Enterprises Inc.H

In conjunction with the merger, the company has finalized equity financing amounting to $750 million, with an additional $750 million potentially available upon the exercise of warrants issued in connection with such financing.

On Monday, Strive Inc. (NASDAQ:ASST) announced leadership changes, with Matt Cole now taking the chairmanship and chief executive positions of the company.

Ben Pham, also took on the chief financial officer position, while Asset Entities’ former CEO, Arshia Sarkhani, took the role of a chief marketing officer.

“Our board and executive team have world-class expertise in Bitcoin, Bitcoin treasury management, capital markets, policy, and governance. We have quickly developed a strong working chemistry that is rare, and I believe will drive substantial shareholder value. We intentionally put together this team to enable Strive to lead with an unwavering focus on Bitcoin accumulation, strategic decision making, and fiduciary duty in service of our mission to increase Bitcoin per share and outperform Bitcoin over the long run,” Cole said.

While we acknowledge the potential of ASST as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.