Strive CEO Matt Cole has initiated a community poll on X to gather opinions on potentially suspending the issuance of new SATA at a $100 par value. This move aims to allow the market to determine the liquidation price, aligning with the long-term interests of shareholders. Cole highlighted a significant increase in short interest, with approximately 1 million shares added in the past month and borrowing costs reaching an annualized rate of 70%.
The current target price for SATA remains at $100, but Cole noted that some investors perceive this as a permanent issuance price, effectively capping the market value. By retaining flexibility in issuance, Strive could make shorting SATA more challenging and costly, potentially increasing short-term volatility but stabilizing the market in the long run.
Strive CEO Considers Halting New SATA Issuance Amid Rising Short Interest
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