ASST Stock Slips Overnight As $27 Warrant Deadline Nears — CEO Teases Strive’s Next Capital-Markets Move
Strive’s $718 million in PIPE warrants outstanding at a $27 exercise price are set to expire on Tuesday.
- Strive had 23.25 million shares underlying traditional warrants as of Oct. 2, down 2.1 million from the 25.35 million reported in the previous week.
- The warrants, initially expected to expire on Monday, were moved to Oct. 2 due to Columbus Day, a federal banking holiday.
- Meanwhile, Maxim hiked the target on Strive by more than 76%, while maintaining a ‘Buy’ rating on the shares.
Shares of Strive Inc. (ASST) slipped 0.76% in the overnight session late Monday as the company’s PIPE (private investment in public equity) warrants outstanding at a $27 exercise price are set to expire on Tuesday.
Meanwhile, CEO Matt Cole said in a post on X, “Strive announces capital markets activities through SEC filings” on Tuesday morning.
Warrant Details
Cole said on X last month that Strive had $718 million in PIPE warrants outstanding as of Sept.11. By Oct. 2, 23.25 million shares remained underlying traditional warrants, down 2.1 million from the prior week, according to a regulatory filing. At the $27 exercise price, cash exercise of all warrants then outstanding could generate up to about $627.7 million in gross proceeds.
The warrants, initially expected to expire on Monday, were moved to Oct. 2 due to Columbus Day, a federal banking holiday, with all other terms remaining unchanged.
In September, Cole said in a post on X that as warrants near expiry, markets should “make sure to also look at options / short interest,” while keeping an eye on how many have already sold. “The rest of 2026 is going to be a lot of fun,” he added.
ASST Stock: Wall Street Hikes
Maxim hiked the target on Strive by more than 76%, while maintaining a ‘Buy’ rating on the shares. Analyst Matthew Galinko raised the price target on Strive to $37 from $21, according to The Fly. The revised target implies an upside of 33.52% from the stock’s last close.
Galinko said that Strive is uniquely positioned as a Bitcoin (BTC) Digital Asset Treasury, with a debt-free balance sheet and liquid common and preferred stock issues, providing multiple levers to optimize BTC per share.
Last week, Strive announced that it had bought 2,000 Bitcoin for $169 million at an average $84,422 each, raising its total holdings to 29,462 BTC through SATA preferred stock proceeds and $56.7 million from warrant exercises. According to the latest data from the company’s website, Strive holds 29,462 BTC for a total market value of $2.42 billion. The average cost basis for BTC held is $89,994.
As per data from Koyfin, five analysts covering the stock have a 12-month average price target of $33.20 on ASST, implying an upside of nearly 20% from its last close. Of the analysts covering the stock, four have a ‘Buy’ rating, while one has a ‘Strong Buy’ rating. There are no ‘Hold’ or ‘Sell’ ratings on the stock.
ASST Stock: Retail Stance
On Stocktwits, retail sentiment around ASST stock was ‘bearish’ at the time of writing. Message volumes around the company increased 180% over 24 hours, according to platform data.
One user said that if “the stock is above $27 and all of the warrants are exercised, that is not a good thing for the stock. it is a good thing for the warrant holders at the expense of the common shareholders.”
Another user said, “$ASST this about to get crazy ugly.”
ASST stock has gained nearly 88% in 2026.
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