Strive (ASST) has drawn fresh attention after launching a 15.00% Series A Perpetual SATS Preferred Stock offering of up to US$1b, linking the capital raise directly to its growing Bitcoin holdings.
Recent moves around Bitcoin and the SATS preferred issue come after a sharp pullback, with Strive’s share price down 23.9% over the past week and 31.2% over 30 days. The stock still shows a 65.9% 90-day share price return and a weaker 3-year total shareholder return that has declined 42.3%, suggesting that short-term momentum has cooled while longer-term holders have yet to see a recovery.
Compare Strive’s Bitcoin heavy approach with other opportunities by scanning a curated set of 30 resilient stocks with low risk scores that keep financial risk scores front and center.
Strive has dropped hard while analyst estimates still cluster much higher. Is this just volatility around its Bitcoin push, or a real reset that brings fair value closer to today’s price?
Price-to-Book of 2.7x: Is it justified for Strive?
On a simple yardstick, Strive trades on a P/B of 2.7x, which looks expensive against the broader US Medical Equipment group but cheaper than its closer peers.
P/B compares the market value of the equity to the accounting value of net assets. For a business like Strive that is loss making and reports a return on equity of roughly negative 69%, investors are effectively paying a premium to book value despite the absence of current profitability.
The stock carries a value score of 1 out of 6 and analysts collectively see a price target of $41.00, almost double the last close of $20.66. At the same time, forecasts still point to Strive remaining unprofitable over the next 3 years. That mix suggests the market is paying up for future potential or for its Bitcoin linked story, even though reported net income sits at a loss of $975.456m on revenue of $8.501m.
Compared with the US Medical Equipment industry average P/B of 2.4x, Strive trades at a higher multiple that points to a richer valuation relative to sector assets. Against a peer group average P/B of 5.9x, the same 2.7x ratio looks materially lower, which implies the shares are priced more conservatively than those direct comparators.
See what the numbers say about this price — find out in our valuation breakdown.
Result: Price-to-book of 2.7x (ABOUT RIGHT)
Still, Strive’s heavy Bitcoin link and deep net loss of $975.456m could quickly flip sentiment if crypto prices stall or if funding costs move higher.
Find out about the key risks to this Strive narrative.
Next Steps
Opinions are mixed on whether Strive’s Bitcoin tilt and valuation premium justify investing at this time. Act while the data is fresh and consider both perspectives by reviewing the 1 key reward and 4 important warning signs
Looking for more investment ideas beyond Strive?
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