Strive Asset Management (ASST) shares closed Friday's session with a significant 20.8% gain, reaching $11.915 on a split-adjusted basis. The rally coincided with the implementation of a 1-for-20 reverse stock split, which became effective before market open. Trading volume was substantial at 9.36 million shares during the session.
Market Mechanics and Adjustments
Nasdaq confirmed the activation of a new CUSIP identifier for Strive's Class A common stock following the corporate action. Options markets underwent adjustments, with MIAX announcing it would rename the current ASST option class to ASST2. These technical changes require brokers and custodians to update their records, potentially creating settlement complexities.
The company's Series A perpetual preferred stock, trading under ticker SATA, also saw positive movement, advancing 7.5% to close at $88.71. Strive's reverse stock split applied to both Class A and Class B common shares, with fractional amounts converted to whole shares and authorized share totals reduced accordingly.
Strategic Context and Market Outlook
Chief Investment Officer Ben Werkman described the reverse split as a strategic move to align the share price with "institutional participation standards." Strive Asset Management, a wholly-owned subsidiary and SEC-registered investment adviser, oversees approximately $2 billion in assets with a focus on bitcoin-treasury strategies.
Market participants are closely watching Monday's opening session to assess post-split liquidity conditions. While reverse splits increase nominal share prices, they don't alter a company's fundamental valuation. Historical patterns suggest such corporate actions can sometimes lead to reduced liquidity and increased volatility.
Beyond immediate trading dynamics, investors are monitoring several upcoming developments. The company recently filed registration for its 2026 Omnibus Equity Incentive Plan, potentially expanding stock-based compensation programs. Additionally, market attention is turning toward February 15, when Strive's SATA preferred stock dividend is scheduled for distribution.