Strive (ASST)
Market Price (10/29/2026): $26.515 | Market Cap: $3.4 BilSector: Financials | Industry: Asset Management & Custody Banks
Strive (ASST)
Market Price (10/29/2026): $26.515Market Cap: $3.4 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -179% Megatrend and thematic driversMegatrends include Investment Philosophy & Governance. Themes include Shareholder Primacy Investing, and Anti-ESG Investment Products. | Weak multi-year price returns2Y Excs Rtn is -111%, 3Y Excs Rtn is -162% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -75 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -859% Expensive valuation multiplesP/SPrice/Sales ratio is 12x Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 389% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -789%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -791% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 155% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -899% High stock price volatilityVol 12M is 106% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 510% Key risksASST key risks include [1] financial fragility and unprofitability tied to its aggressive Bitcoin accumulation strategy, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -179% |
| Megatrend and thematic driversMegatrends include Investment Philosophy & Governance. Themes include Shareholder Primacy Investing, and Anti-ESG Investment Products. |
| Weak multi-year price returns2Y Excs Rtn is -111%, 3Y Excs Rtn is -162% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -75 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -859% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 12x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 389% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -789%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -791% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 155% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -899% |
| High stock price volatilityVol 12M is 106% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 510% |
| Key risksASST key risks include [1] financial fragility and unprofitability tied to its aggressive Bitcoin accumulation strategy, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Strive (ASST) stock has gained about 150% since 6/30/2026 because of the following key factors:
The search for the exact June 30, 2026, stock price is proving difficult to pinpoint from the provided snippets, as most historical data focuses on more recent months or longer-term performance summaries. However, Source explicitly states "3-Month. 10.96 +140.15%. on 08/03/26. Period Open: 11.49." and "3 Month Performance: +152.13%." as of October 24, 2026. This means the approximate starting price for the 3-month period was around $10.96 (on August 3, 2026) or earlier in July. This aligns with the user's "gained about 150% since 6/30/2026." Since I have the percentage gain for a period closely matching the requested timeframe, and the price at the beginning of that 3-month period, I can proceed with the analysis. The prompt asks for "about 150%," and the retrieved "152.13%" fits perfectly.
I can now formulate the 3 key points based on the strong evidence collected.
Current Stock Price (approx. as of 10/27/2026): $27.37Approximate Starting Price (around July 24, 2026, for 152.13% gain over 3 months): $28.97 (price on Oct 24) / (1 + 1.5213) = $11.49 - (using the closest current price as cited in)More precisely:
- As of Oct 24, 2026, ASST traded at $28.97.
- 3 Month Performance (ending Oct 24, 2026) was +152.13%.
- So, the price 3 months prior (around July 24, 2026) would be $28.97 / (1 + 1.5213) = $28.97 / 2.5213 = $11.49.
- This is consistent with other data that shows low $11s at the start of August. states a low of $10.96 on 08/03/26. This confirms the initial price range for the period.
I will use the 152.13% gain over the three-month period ending October 24, 2026, as the basis for the specified "about 150% since 6/30/2026."
Final check on constraints:
- 3-5 key points: I have 3 strong core reasons.
- Insider trading: No individual transaction exceeded $5M, so not included.
- Quantify & Specify: All points include numbers and specific details (BTC amounts, price targets, offering sizes).
- Tone & Caveats: Avoided.
- Fiscal Calendar: Used fiscal quarters appropriately (Q3 2026, Q4 2026).
- Fallback: Not needed.
I'm ready to generate the response.
Show more
Strive (ASST) stock has gained about 150% since 6/30/2026 because of the following key factors:
The search for the exact June 30, 2026, stock price is proving difficult to pinpoint from the provided snippets, as most historical data focuses on more recent months or longer-term performance summaries. However, Source explicitly states "3-Month. 10.96 +140.15%. on 08/03/26. Period Open: 11.49." and "3 Month Performance: +152.13%." as of October 24, 2026. This means the approximate starting price for the 3-month period was around $10.96 (on August 3, 2026) or earlier in July. This aligns with the user's "gained about 150% since 6/30/2026." Since I have the percentage gain for a period closely matching the requested timeframe, and the price at the beginning of that 3-month period, I can proceed with the analysis. The prompt asks for "about 150%," and the retrieved "152.13%" fits perfectly.
I can now formulate the 3 key points based on the strong evidence collected.
Current Stock Price (approx. as of 10/27/2026): $27.37Approximate Starting Price (around July 24, 2026, for 152.13% gain over 3 months): $28.97 (price on Oct 24) / (1 + 1.5213) = $11.49 - (using the closest current price as cited in)More precisely:
- As of Oct 24, 2026, ASST traded at $28.97.
- 3 Month Performance (ending Oct 24, 2026) was +152.13%.
- So, the price 3 months prior (around July 24, 2026) would be $28.97 / (1 + 1.5213) = $28.97 / 2.5213 = $11.49.
- This is consistent with other data that shows low $11s at the start of August. states a low of $10.96 on 08/03/26. This confirms the initial price range for the period.
I will use the 152.13% gain over the three-month period ending October 24, 2026, as the basis for the specified "about 150% since 6/30/2026."
Final check on constraints:
- 3-5 key points: I have 3 strong core reasons.
- Insider trading: No individual transaction exceeded $5M, so not included.
- Quantify & Specify: All points include numbers and specific details (BTC amounts, price targets, offering sizes).
- Tone & Caveats: Avoided.
- Fiscal Calendar: Used fiscal quarters appropriately (Q3 2026, Q4 2026).
- Fallback: Not needed.
I'm ready to generate the response.
Show less
Stock Movement Drivers
Fundamental Drivers
The 152.3% change in ASST stock from 6/30/2026 to 10/28/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302026 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.91 | 27.53 | 152.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 9 | 0.0% |
| P/S Multiple | � | 11.9 | 0.0% |
| Shares Outstanding (Mil) | 0 | 4 | -96.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| ASST | 152.3% | |
| Market (SPY) | 3.4% | 36.4% |
| Sector (XLF) | 4.7% | 22.1% |
Fundamental Drivers
The 174.8% change in ASST stock from 3/31/2026 to 10/28/2026 was primarily driven by a 195.3% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.02 | 27.53 | 174.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 9 | 59.2% |
| P/S Multiple | 4.0 | 11.9 | 195.3% |
| Shares Outstanding (Mil) | 2 | 4 | -41.6% |
| Cumulative Contribution | 174.8% |
Market Drivers
3/31/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| ASST | 174.8% | |
| Market (SPY) | 19.1% | 41.8% |
| Sector (XLF) | 14.1% | 21.4% |
Fundamental Drivers
The -44.9% change in ASST stock from 9/30/2025 to 10/28/2026 was primarily driven by a -96.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302025 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 50.00 | 27.53 | -44.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 9 | 0.0% |
| P/S Multiple | � | 11.9 | 0.0% |
| Shares Outstanding (Mil) | 0 | 4 | -96.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
9/30/2025 to 10/28/2026| Return | Correlation | |
|---|---|---|
| ASST | -44.9% | |
| Market (SPY) | 16.9% | 38.1% |
| Sector (XLF) | 5.5% | 28.5% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/28/2026| Return | Correlation | |
|---|---|---|
| ASST | ||
| Market (SPY) | 86.9% | 37.4% |
| Sector (XLF) | 76.6% | 26.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ASST Return | - | - | - | - | -88% | 84% | -78% |
| Peers Return | 55% | -82% | 433% | 70% | -12% | -13% | 96% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| ASST Win Rate | - | - | - | - | 0% | 70% | |
| Peers Win Rate | 44% | 33% | 69% | 44% | 53% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ASST Max Drawdown | - | - | - | - | - | -67% | |
| Peers Max Drawdown | -69% | -85% | -52% | -58% | -60% | -57% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSTR, GLXY, MARA, RIOT, CLSK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/28/2026 (YTD)
How Low Can It Go
ASST has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
ASST has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Strive (ASST)
Asset Entities Inc. (ASST) is a technology company focused on social media marketing and content delivery, primarily utilizing platforms like Discord and TikTok. The company specializes in designing, developing, and managing online communities and providing specialized content for various audiences.
Asset Entities offers two primary service categories. Its Discord investment education and entertainment services target Generation Z retail investors, creators, and influencers, providing community-based learning on topics such as stocks, cryptocurrency, real estate, and NFTs. Additionally, the company provides social media and marketing campaign services to business clients, leveraging its "Social Influencer Network" to expand client reach, drive traffic, and enhance their digital presence.
The company's third offering, "AE.360.DDM" services, involves designing, developing, and managing custom Discord servers for individuals and organizations looking to establish and grow their own online communities. Asset Entities positions itself as a leading provider in these burgeoning markets, anticipating rapid revenue growth by capitalizing on the increasing demand for social media engagement and community building.
AI Analysis | Feedback
- It's like a specialized digital marketing agency focused on Gen Z and Discord, similar to how VaynerMedia helps brands on broader social media platforms.
- It's also like MasterClass or Skillshare but for Gen Z-focused investment education delivered through interactive Discord communities.
AI Analysis | Feedback
- Discord Investment Education and Entertainment Services: Provides community learning programs focused on investments (stocks, real estate, cryptocurrency, NFTs) primarily for Gen Z and expanding to older generations.
- Social Media and Marketing Services: Offers social media and marketing campaigns to business clients, utilizing a network of social influencer independent contractors to expand Discord server bases and drive traffic.
- AE.360.DDM (Design, Develop, Manage) Services: A suite of services for individuals and companies seeking to create, develop, and manage their own communities and servers on Discord.
AI Analysis | Feedback
- Gen Z Retail Investors, Creators, and Influencers: This group is the primary target for Asset Entities' Discord investment education and entertainment services, which focus on various asset classes like stocks, real estate, cryptocurrency, and nonfungible tokens (NFTs). These individuals are typically born between 1997 and 2012 and are enthusiastic about community learning programs.
- Older Generations Interested in Real Estate Investments: Asset Entities has expanded its Discord server offerings to include education and entertainment content specifically covering real estate investments, which is designed to appeal strongly to generations older than Gen Z.
- Individuals Seeking to Create and Manage Discord Servers: Through its AE.360.DDM (Design, Develop, Manage) service, Asset Entities provides a suite of services to individuals who wish to establish and manage their own communities on Discord.
AI Analysis | Feedback
AI Analysis | Feedback
Matthew Cole, Chairman of the Board, Chief Executive Officer
Matthew Cole leads Strive, Inc. as CEO and Chairman of the Board, having been appointed in September 2025. He brings extensive institutional experience, having served as a former $70 billion fixed income portfolio manager specializing in complex structured securities. Cole also oversaw $70 billion in assets at CalPERS. He was appointed as Strive's first CEO following the resignation of co-founder Vivek Ramaswamy.
Benjamin Pham, Chief Financial Officer, Principal Accounting Officer, Director
Benjamin Pham serves as the Chief Financial Officer and Principal Accounting Officer of Strive, Inc., a role he assumed in 2025.
Arshia Sarkhani, Chief Marketing Officer, Director
Arshia Sarkhani is the Chief Marketing Officer and a Director of Strive, Inc. He previously served as the President and CEO of Asset Entities, Inc. before its merger with Strive Asset Management. Sarkhani is a co-founder of Asset Entities, having served as its CEO and Director since September 2021 and President since March 2022. From August 2020 to September 2021, he was the Monetization Head for Asset Entities Inc. He is also the sole owner and CEO of Sarkhani Inc. (since April 2020) and Shiazon Inc. (since July 2020), and prior to co-founding Asset Entities, he actively invested in and developed social media.
Logan Beirne, Chief Legal Officer, Director
Logan Beirne is the Chief Legal Officer and a Director for Strive, Inc.
Arman Sarkhani, Co-Founder, Chief Operating Officer
Arman Sarkhani is a Co-Founder and the Chief Operating Officer of Strive, Inc.
AI Analysis | Feedback
Key Risks to Business
- Reliance on Third-Party Social Media Platforms: Asset Entities' business model is fundamentally dependent on the continued availability, policies, and functionality of third-party social media platforms such as Discord, TikTok, Twitter, Instagram, and YouTube. Any adverse changes to these platforms' algorithms, terms of service, policies, or their operational stability could significantly disrupt the company's ability to deliver its social media marketing, content delivery, investment education, and server design, development, and management (AE.360.DDM) services.
- Challenges in Monetization and Subscriber Conversion: Despite a reported combined server user membership of approximately 275,000 as of September 2022, the company generated revenue from only 685 paying subscribers during the quarter ended September 30, 2022. This low conversion rate indicates a significant challenge in effectively monetizing its large user base and converting free members into paying customers for its premium content and services. Failure to substantially improve this conversion rate and attract more paying subscribers and business clients could impede the company's expected rapid revenue growth and overall financial sustainability.
- Market Volatility and Regulatory Risks in Investment Education: Asset Entities' primary service involves providing investment education and entertainment focused on stocks, real estate, cryptocurrency, and nonfungible tokens (NFTs), primarily targeting Generation Z. This market segment and the underlying asset classes are inherently susceptible to significant market volatility, rapid shifts in investor sentiment, and evolving regulatory environments. Changes in investment trends among Gen Z, a downturn in the markets for speculative assets like cryptocurrency and NFTs, or increased regulatory scrutiny on online financial education services could materially impact the demand for their core investment education offerings.
AI Analysis | Feedback
The clear emerging threat for Asset Entities (ASST) is its profound reliance on third-party social media platforms, particularly Discord, TikTok, and others mentioned (Twitter, Instagram, YouTube). Should a new, disruptive social media platform emerge that captures the attention and user base of Generation Z (and other target demographics) away from these existing platforms, Asset Entities' ability to reach its audience and deliver its services would be severely compromised. This scenario mirrors the launch of Apple's iPhone, which offered a superior platform experience, ultimately threatening Research in Motion's BlackBerry, which was reliant on its own proprietary system.
Additionally, a related threat is the potential for Discord or other core platforms to evolve and directly offer similar "Design, Develop, Manage" (DDM) services, community management tools, or investment education content. If the platforms themselves provide robust, perhaps premium, versions of these services, it would position them as direct competitors to Asset Entities, potentially rendering ASST's external services redundant or less attractive. This is akin to how YouTube directly offered a vast library of user-generated content, threatening traditional cable companies that bundled and delivered content through a different model.
AI Analysis | Feedback
The addressable markets for Strive's (symbol: ASST) main products or services are as follows:
Online Investment Education and Entertainment Services
The company's Discord investment education and entertainment services are part of the broader global online education market. This market was valued at approximately USD 61.0 billion in 2024 and is projected to grow to USD 454.49 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 25% during the forecast period of 2026–2033. North America is a dominant region in the online education market. Gen Z, the primary target demographic for Strive's investment education, represents a significant and growing segment of investors, with 56% of US Gen Z individuals aged 18 to 25 reporting ownership of at least some investments. Many Gen Z investors also increasingly rely on fintech platforms and online communities for financial advice.
Social Media and Marketing Services
The global Social Media Marketing (SMM) Service market is a significant addressable market. This market was recorded at $58.173 billion in 2021 and is projected to reach $110.697 billion by the end of 2025, further expanding to $400.828 billion by 2033. This market is expected to grow at a CAGR of 17.45% from 2025 to 2033. North America is a leading region in the social media marketing service market.
AE.360.DDM Services (Design, Develop, Manage Discord Servers)
A specific addressable market size for Discord server design, development, and management services is not readily available in the provided data. However, the underlying platform, Discord, boasts a substantial user base, indicating a large potential market for these specialized services. As of January 2026, Discord has 656 million registered users and 259 million monthly active users globally. There are over 32.6 million servers on Discord. In Q4 2022, approximately 4.1 million new servers were created monthly, demonstrating a growing ecosystem.
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- Transformation into a Bitcoin Treasury Company: The merger with Strive Asset Management is pivoting Asset Entities (ASST) from its original social media and content delivery services to primarily operating as a publicly traded asset management company with a Bitcoin treasury strategy. This fundamental business model shift is expected to drive a significant revaluation and redefine its growth trajectory.
- Strategic Bitcoin Accumulation and Alpha-Generating Strategies: A key driver will be the active accumulation of Bitcoin, supported by a substantial private investment in public equity (PIPE) of $750 million, with potential to reach $1.5 billion through warrant exercises. The combined entity aims to implement both beta Bitcoin treasury accumulation strategies and "alpha investment strategies" to actively outperform Bitcoin's investment performance.
- Expansion of Digital Asset Management Offerings: Beyond direct Bitcoin accumulation, the company, as an asset management firm, is positioned to expand its digital asset management offerings. This is demonstrated by strategic investments such as the $50 million commitment to Strategy's variable rate series A perpetual "Stretch" preferred stock, indicating a broader approach to high-yield digital asset instruments.
- Continued Growth in Social Media Marketing and Discord Services: The legacy business of Asset Entities, which includes social media marketing, content delivery across platforms like Discord and TikTok, and Discord server design, development, and management services, is also expected to contribute to revenue growth. The company reported a 237% year-over-year revenue increase for this segment for the quarter ended September 30, 2024, attributed to strategic acquisitions and partnerships.
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Share Repurchases
- Asset Entities Inc. authorized a stock repurchase program on November 27, 2023, to acquire up to 1,250,000 shares of its Class B Common Stock, representing 22.17% of its issued share capital, with the program expiring on November 21, 2024.
Share Issuance
- In connection with its merger with Strive Enterprises in September 2025, Asset Entities (now Strive, Inc.) secured approximately $750 million in equity financing, with the potential for an additional $750 million through the exercise of warrants, for a total of up to $1.5 billion in gross proceeds.
- The number of outstanding shares for Strive (ASST) increased by 2,176.99% in the year leading up to March 2026, reaching 63.05 million shares, largely due to the merger and subsequent capital raises.
- Strive Inc. underwent a 1:20 reverse stock split on February 6, 2026, to maintain its listing.
Inbound Investments
- The company received approximately $750 million in private investment in public equity (PIPE) financing concurrently with the closing of its merger with Strive Enterprises in September 2025, aimed at funding Bitcoin accumulation.
- Graham Capital Management, L.P. acquired 37,037,038 shares of Asset Entities Inc. (ASST) at $8.49 per share on September 12, 2025, an investment totaling approximately $314.4 million.
Outbound Investments
- In March 2026, Strive (ASST) invested $50 million in Strategy's variable rate series A perpetual "Stretch" preferred stock (STRC), representing over one-third of Strive's corporate treasury.
- Strive completed an all-stock acquisition of Semler Scientific in January 2026.
Capital Expenditures
- For the 12 months preceding March 2026, Strive (ASST) reported capital expenditures of $175,740.
Peer Outperformance in Asset Management & Custody Banks
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 34.8% | 72.3% | 116.9% | SPNT 169% · RGA 140% · RNR 137% |
| Investment Banking & Brokerage | 13 | -10.3% | 107.9% | 99.8% | IBKR 386% · SNEX 175% · HOOD 158% |
| Diversified Banks | 12 | 29.9% | 162.0% | 88.9% | CM 144% · RY 129% · JPM 125% |
| Life & Health Insurance | 20 | 16.3% | 54.8% | 80.0% | JXN 510% · UNM 287% · MFC 184% |
| Property & Casualty Insurance | 41 | 16.7% | 74.7% | 63.3% | TRV 168% · PGR 163% · ACGL 156% |
| Multi-line Insurance | 9 | 6.9% | 67.4% | 58.9% | GNW 106% · L 99% · AIZ 89% |
| Regional Banks | 265 | 30.6% | 101.4% | 54.9% | CBC 247% · FCNCA 187% · NIC 148% |
| Multi-Sector Holdings | 3 | 3.6% | 62.9% | 53.2% | BRK-B 87% · VOYA 53% · JEF 35% |
| Financial Exchanges & Data | 15 | 3.3% | 41.5% | 22.8% | CBOE 161% · VIRT 156% · CME 66% |
| Insurance Brokers | 15 | -1.5% | 9.6% | 17.7% | LIFE 384% · ARX 89% · AJG 67% |
| Asset Management & Custody Banks ← | 85 | -12.0% | 23.3% | 8.4% | WT 274% · VCTR 251% · AAMI 220% |
| Consumer Finance | 30 | 2.5% | 82.6% | 5.4% | ENVA 455% · FCFS 122% · AXP 94% |
| Diversified Financial Services | 4 | -6.0% | 20.6% | 4.8% | FRHC 166% · EQH 84% |
| Commercial & Residential Mortgage Finance | 14 | -53.6% | 28.1% | -1.6% | FNMA 372% · FMCC 318% · ACT 160% |
| Specialized Finance | 3 | 10.3% | 42.3% | -9.6% | CACC -10% · HASI -23% |
| Mortgage REITs | 34 | -19.4% | -2.7% | -33.7% | RITM 35% · DX 21% · AGNC 12% |
| Transaction & Payment Processing Services | 17 | 2.8% | 15.9% | -38.5% | V 98% · MA 89% · CPAY 57% |
| Diversified Capital Markets | 20 | -49.5% | 20.9% | -60.1% | LPLA 58% · TW 40% · RIOT -48% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 15.97 |
| Mkt Cap | 3.1 |
| Rev LTM | 677 |
| Op Inc LTM | -217 |
| FCF LTM | -1,168 |
| FCF 3Y Avg | -961 |
| CFO LTM | -425 |
| CFO 3Y Avg | -354 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.8% |
| Rev Chg 3Y Avg | 60.8% |
| Rev Chg Q | 2.9% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | -14.2% |
| Op Inc Chg 3Y Avg | -92.6% |
| Op Mgn LTM | -58.2% |
| Op Mgn 3Y Avg | -29.1% |
| QoQ Delta Op Mgn LTM | -10.3% |
| CFO/Rev LTM | -75.4% |
| CFO/Rev 3Y Avg | -62.9% |
| FCF/Rev LTM | -158.4% |
| FCF/Rev 3Y Avg | -168.7% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 |
|---|---|---|
| Asset Management | 4 | |
| Corporate & Other | 0 | |
| Single Segment | 2 | |
| Total | 4 | 2 |
| $ Mil | 2024 |
|---|---|
| Corporate & Other | 0 |
| Asset Management | -23 |
| Total | -23 |
| $ Mil | 2024 |
|---|---|
| Corporate & Other | 0 |
| Asset Management | -22 |
| Total | -22 |
| $ Mil | 2024 |
|---|---|
| Asset Management | 28 |
| Corporate & Other | 0 |
| Total | 28 |
Price Behavior
| Market Price | $27.53 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 02/03/2023 | |
| Distance from 52W High | -10.5% | |
| 50 Days | 200 Days | |
| DMA Price | $26.52 | $16.40 |
| DMA Trend | up | up |
| Distance from DMA | 3.8% | 67.8% |
| 3M | 1YR | |
| Volatility | 84.2% | 106.2% |
| Downside Capture | 54.52 | 415.33 |
| Upside Capture | 495.15 | 340.97 |
| Correlation (S&P 500) | 31.2% | 41.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.81 | 2.00 | 2.48 | 2.87 | 3.66 | 0.04 |
| Up Beta | 2.59 | -0.42 | 1.54 | 3.17 | 3.88 | 2.33 |
| Down Beta | 5.33 | -0.78 | 4.84 | 2.81 | 3.09 | 0.66 |
| Up Capture | 304% | 806% | 620% | 670% | 917% | 78% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 14 | 28 | 38 | 66 | 113 | 115 |
| Down Capture | -246% | -332% | -131% | 156% | 187% | 111% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 8 | 14 | 25 | 59 | 138 | 146 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ASST | |
|---|---|---|---|---|
| ASST | -16.1% | 106.2% | 0.31 | - |
| Sector ETF (XLF) | 6.6% | 14.5% | 0.20 | 31.6% |
| Equity (SPY) | 13.7% | 12.7% | 0.72 | 41.3% |
| Gold (GLD) | 1.8% | 28.3% | 0.05 | 24.4% |
| Commodities (DBC) | 48.4% | 20.6% | 1.80 | -3.4% |
| Real Estate (VNQ) | 2.8% | 13.9% | -0.05 | 13.5% |
| Bitcoin (BTCUSD) | -29.4% | 43.4% | -0.68 | 69.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ASST | |
|---|---|---|---|---|
| ASST | -26.1% | 128.2% | -0.46 | - |
| Sector ETF (XLF) | 8.7% | 18.3% | 0.34 | 26.4% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 37.4% |
| Gold (GLD) | 17.5% | 18.9% | 0.74 | 12.8% |
| Commodities (DBC) | 9.1% | 19.5% | 0.35 | -3.8% |
| Real Estate (VNQ) | 0.6% | 18.9% | -0.08 | 11.5% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 56.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ASST | |
|---|---|---|---|---|
| ASST | -14.0% | 128.2% | -0.46 | - |
| Sector ETF (XLF) | 13.2% | 22.1% | 0.54 | 26.4% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 37.4% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 12.8% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | -3.8% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 11.5% |
| Bitcoin (BTCUSD) | 62.3% | 66.2% | 1.02 | 56.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 10/26/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -0.3% | -1.3% | 117.6% |
| 5/14/2026 | 5.8% | 1.4% | -9.5% |
| 3/19/2026 | 2.2% | 8.1% | 55.6% |
| 11/14/2025 | -6.1% | -14.5% | -25.2% |
| SUMMARY STATS | |||
| # Positive | 2 | 2 | 2 |
| # Negative | 2 | 2 | 2 |
| Median Positive | 4.0% | 4.8% | 86.6% |
| Median Negative | -3.2% | -7.9% | -17.3% |
| Max Positive | 5.8% | 8.1% | 117.6% |
| Max Negative | -6.1% | -14.5% | -25.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -0.3% | -1.3% | 117.6% |
| 5/14/2026 | 5.8% | 1.4% | -9.5% |
| 3/19/2026 | 2.2% | 8.1% | 55.6% |
| 11/14/2025 | -6.1% | -14.5% | -25.2% |
| SUMMARY STATS | |||
| # Positive | 2 | 2 | 2 |
| # Negative | 2 | 2 | 2 |
| Median Positive | 4.0% | 4.8% | 86.6% |
| Median Negative | -3.2% | -7.9% | -17.3% |
| Max Positive | 5.8% | 8.1% | 117.6% |
| Max Negative | -6.1% | -14.5% | -25.2% |
Insider Activity
Updated 10/5/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cole, Matthew Ryan | Chief Executive Officer | Direct | Sell | 10052026 | 31.33 | 58,789 | 1,842,112 | 26,471,060 | Form |
| 2 | Pham, Benjamin | Chief Financial Officer | Direct | Sell | 10052026 | 31.33 | 4,209 | 131,886 | 544,120 | Form |
| 3 | MacEy, Jonathan R | Direct | Sell | 10052026 | 30.32 | 6,700 | 203,144 | 246,047 | Form | |
| 4 | Lavish, James | Direct | Sell | 10052026 | 30.75 | 6,000 | 184,530 | 271,105 | Form | |
| 5 | Beirne, Brian Logan | Chief Legal Officer | Direct | Sell | 10052026 | 31.33 | 20,077 | 629,099 | 1,298,023 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cole, Matthew Ryan | Chief Executive Officer | Direct | Sell | 10052026 | 31.33 | 58,789 | 1,842,112 | 26,471,060 | Form |
| 2 | Pham, Benjamin | Chief Financial Officer | Direct | Sell | 10052026 | 31.33 | 4,209 | 131,886 | 544,120 | Form |
| 3 | MacEy, Jonathan R | Direct | Sell | 10052026 | 30.32 | 6,700 | 203,144 | 246,047 | Form | |
| 4 | Lavish, James | Direct | Sell | 10052026 | 30.75 | 6,000 | 184,530 | 271,105 | Form | |
| 5 | Beirne, Brian Logan | Chief Legal Officer | Direct | Sell | 10052026 | 31.33 | 20,077 | 629,099 | 1,298,023 | Form |
| 6 | Sarkhani, Arshia | Chief Marketing Officer | Direct | Sell | 10052026 | 31.33 | 5,634 | 176,537 | 369,588 | Form |
| 7 | Rochard, Pierre | Direct | Buy | 8182026 | 12.54 | 15,900 | 199,386 | 199,386 | Form | |
| 8 | Pham, Benjamin | Chief Financial Officer | IRA | Buy | 2192026 | 8.06 | 6,214 | 50,095 | 50,095 | Form |
| 9 | Pham, Benjamin | Chief Financial Officer | 401(k) Plan | Buy | 2192026 | 8.23 | 7,900 | 65,000 | 65,000 | Form |
| 10 | Beirne, Brian Logan | Chief Legal Officer | Direct | Buy | 2172026 | 8.73 | 11,500 | 100,387 | 132,720 | Form |
| 11 | Cole, Matthew Ryan | Chief Executive Officer | Direct | Buy | 1142026 | 0.92 | 500,000 | 459,350 | 700,979 | Form |
| 12 | Cole, Matthew Ryan | Chief Executive Officer | Direct | Buy | 12162025 | 0.82 | 207,457 | 169,119 | 214,407 | Form |
| 13 | Cole, Matthew Ryan | Chief Executive Officer | LT&C LLC | Buy | 12162025 | 0.80 | 237,079 | 189,829 | 293,624 | Form |
| 14 | Cole, Matthew Ryan | Chief Executive Officer | Spouse IRA | Buy | 12162025 | 0.80 | 11,920 | 9,560 | 9,560 | Form |
| 15 | Cole, Matthew Ryan | Chief Executive Officer | 401(k) Plan | Buy | 12162025 | 0.81 | 58,739 | 47,491 | 47,491 | Form |
| 16 | Ramaswamy, Vivek | Direct | Buy | 11072025 | 80.00 | 15,625 | 1,250,000 | 1,250,000 | Form |
Investor Activity (13F)
Updated Oct 29, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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