peterschreiber.media/iStock via Getty Images
MicroStrategy (NASDAQ:MSTR) is set to execute a 10-for-1 stock split of its class A common stock and class B common stock “to make its stock more accessible to investors and employees.”
The stock split will be effected via a stock dividend to the holders of record of MicroStrategy’s class A common stock and class B common stock as of the close of business on August 1, 2024, the record date for the dividend. The stock dividend will not have any impact on the voting and other rights of stockholders.
As a result, each holder of a share of MicroStrategy’s class A common stock and class B common will each receive nine additional shares of class A common stock and B common stock.
In each case, the shares are expected to be distributed after the close of trading on August 7, 2024. Trading is expected to commence on a split-adjusted basis at market open on August 8, 2024.
Shares of MicroStrategy (MSTR) gained 5.6% in early trading on Thursday
More on MicroStrategy
- MicroStrategy Is Hedge Funds' Favorite Meme Stock
- MicroStrategy: Upside Potential, But Wait For Miners To Adjust
- MicroStrategy: Valuation Significantly Decoupled From Its Bitcoin Holdings
- Biggest stock movers today: Crypto stocks, M, and more
- Biggest stock movers today: Crypto stocks, CHWY, SPR, NIO and more