In a surprising turn of events, value investor Mike Alfred took to social media platform X on Friday, October 24, to announce that he had acquired over a million shares of Strive Asset Management (ASST), totaling nearly $1 million. This announcement caught the attention of the investment community, prompting the leadership of Strive to retweet Alfred’s post. According to various SEC filings submitted on October 27, this endorsement led to a significant rally in ASST shares.
By the close of trading on Friday, ASST shares surged by 27% compared to the previous day’s closing price. The momentum continued into Monday morning, where ASST shares rose an additional 33%, reaching $1.47 per share. This surge marked an astonishing 86% increase from the price of $0.78 per share recorded just three days earlier.
The recent price volatility comes in the wake of Strive’s announcement last month about a merger deal with Semler Scientific (SMLR), which involves acquiring Semler in an all-stock transaction. This initial announcement reportedly caused ASST shares to plummet over 80%, with the stock still down approximately 87% from its highs recorded in May.
Mike Alfred is no stranger to the spotlight in the investment world, particularly known for his substantial position in IREN, a Bitcoin mining and AI data center company that has seen a remarkable rise of over 500% year-to-date and more than 1100% from its lows in April 2025. Recently, Alfred also joined the Board of digital assets company Bakkt (BKKT). Following this announcement, BKKT stocks experienced a significant surge, more than doubling in value since Alfred’s appointment.
The recent developments surrounding ASST and Alfred’s investment have sparked intrigue among investors, indicating a renewed interest in the stock amidst a backdrop of volatility and changing market dynamics.
