Stocks Jump After CEO Announces Purchase of Over 515,000 Shares
Key receivers
Strive CEO Matt Cole bought more than 515,000 shares of ASST during the downturn. The insider purchase resulted in a significant increase in Strive's stock price.
Share this article
Shares of Strive Asset Management ( ASST ) jumped nearly 13 percent on Tuesday after CEO Matt Cole of the Vivek Ramaswamy-founded Bitcoin treasury company announced a major insider buy.
According to the latest SEC filing, Cole acquired more than 515,000 ASST shares on Dec. 15, both through direct purchases and shares held by related parties, boosting executive confidence in the company's future growth.
The purchase was made amid Strive's Monday low of $0.79. The stock rose to $0.89 after the move was announced, according to Yahoo Finance.
The Bitcoin treasury company, which focuses on asset management, is seeking up to $500 million in an ATM preferred stock offering to buy more bitcoin and related products. The funds support general corporate activities such as working capital, stock repurchases and debt repayments.
Strive currently holds 7,525 Bitcoin, valued at $660 million.
