Strive (STRIVE) Shares Plunge 6.25% as Strategic Uncertainty Weighs Post-High-Stakes Mergers

In pre-market trading on November 20, 2025, Strive shares plummeted 6.25% amid investor concerns over its strategic direction. The decline follows a series of high-stakes corporate moves that have tested market confidence in the firm’s evolving identity.

The company, once positioned as an “anti-woke” investment firm, shifted to a Bitcoin treasury model this year. A September merger with publicly traded treasury entity Assets Entities was followed by a second proposed all-stock deal ten days later. However, the structure of the second transaction has drawn skepticism, with Strive’s stock price collapsing 74% since its announcement. The abrupt shift from private equity to public treasury operations, coupled with unclear value propositions, has left investors wary of execution risks.

The volatility underscores the fragility of market trust in unproven business transitions. Founder Vivek Ramaswamy’s personal stake, once valued at $150 million in the private phase, now appears stabilized at a similar level despite the public equity plunge. This suggests limited downside for his core holdings, though broader shareholder sentiment remains fragile. The firm’s pivot to digital assets has yet to translate into tangible revenue streams or competitive differentiation in a crowded crypto space.

Technical indicators show the stock has breached key support levels, raising concerns about further near-term declines. A retest of the $0.50 per share threshold could trigger additional selling pressure if liquidity dries up. Market participants are now closely monitoring whether the firm can articulate a clear roadmap for revenue diversification or regulatory clarity in its Bitcoin-focused model.

Backtesting assumptions suggest a potential short-term trading strategy could involve bearish positions with tight stop-loss orders below $0.50, leveraging the observed breakdown in momentum. However, long-term viability hinges on Strive’s ability to demonstrate operational scalability in its treasury services. Until then, the stock remains a high-risk proposition for capital preservation-focused investors.