Shares of Asset Entities Inc (NASDAQ:ASST) are trading sharply higher Wednesday morning after the company announced that its stockholders have approved a previously announced merger with Strive Enterprises, Inc. The approval marks a key step toward creating a public Bitcoin (CRYPTO: BTC) treasury company.
What To Know: Following the merger’s completion, the combined entity will be renamed Strive, Inc., and will continue to trade on Nasdaq under the ticker symbol ASST. Matt Cole will lead the new company as CEO and Chairman, while Asset Entities President Arshia Sarkhani will serve as Chief Marketing Officer and a member of the Board.
Concurrent with the merger, the company is securing a private placement expected to raise aggregate gross proceeds of more than $750 million, with a potential for an additional $750 million through warrants.
In a Wednesday press release, Cole stated that through this reverse-merger structure, the company is “uniquely positioned relative to peers to execute our strategy and maximize Bitcoin per share for investors.”
Price Action: According to data from Benzinga Pro, ASST shares are trading higher by 41% to $8.86 Wednesday morning. The stock has a 52-week high of $13.42 and a 52-week low of $0.34.
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How To Buy ASST Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Asset Entities’ case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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