Shares of Strive Asset Management (ASST) and Semler Scientific (SMLR) surged in premarket trading on Monday, maintaining the positive trend surrounding the first merger of two publicly traded bitcoin treasury firms.
Strive’s stock rose approximately 30% to $1.46, while Semler’s shares increased by 18% to $28.40. This upward movement continued from late Friday, following investor Mike Alfred’s announcement on X that he acquired over 1 million shares of ASST.
“Strive is among the most promising BTC Treasury firms globally and is trading at a favorable valuation,” Alfred remarked.
Retail investors have shifted their focus to the stock. The WallStreetBets community has identified ASST as one of its top-trending tickers in the last day, accumulating over 100 mentions.
The renewed interest follows Strive’s announcement of its plan to acquire Semler Scientific in a stock deal that values Semler at a 210% premium, equating to $90.52 per share based on Friday’s closing price. Each SMLR share is set to convert into 21.05 shares of ASST upon deal completion.
This news was not well-received on Wall Street, leading to a significant decline in both stocks since the announcement. Last Wednesday, ASST fell below $0.80 per share, nearly 50% below the value of the bitcoin it holds.
The combination of a bargain valuation, a bounce in bitcoin’s price, and Alfred’s timely tweet have spurred the recent dramatic rise in stock value.
