Shares in Bitcoin development firm MicroStrategy popped 3% on Thursday after the company’s executive chairman, Michael Saylor, announced that it will soon undergo a 10-for-1 stock split.
The action will make it far more affordable for smaller investors to gain minimal exposure to MSTR, which left them in the dust during its early-year rally alongside Bitcoin.
Making MicroStrategy More Affordable
Per a Thursday press release from the company, the action will apply to all holders of MicroStrategy’s Class A and Class B common stock. For every share they already hold as of August 1, 2024, they’ll receive another nine shares after trading closes on August 7.
The split will “make MicroStrategy’s stock more accessible to investors and employees,” the company wrote in a Thursday press release. “The stock split will be effected by means of 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 Aug
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