Finance

MicroStrategy Announces 10-for-1 Stock Split to Increase Accessibility

Jul 11, 2024 1 min read

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MicroStrategy Inc. (NASDAQ: MSTR) has announced a 10-for-1 stock split of its class A and class B common stock, aiming to make its shares more accessible to investors and employees. The stock split will be effected via a stock dividend for shareholders of record as of August 1, 2024, with each shareholder receiving nine additional shares. The new shares are expected to be distributed after trading closes on August 7, 2024, and trading will begin on a split-adjusted basis on August 8, 2024. Following the announcement, MicroStrategy's shares rose 5.6% in early trading.

MicroStrategy began investing in bitcoin in 2020 as revenue from its software business declined, becoming the largest corporate holder of the cryptocurrency. Analysts have noted that this strategic move has enhanced the appeal of MicroStrategy's stock, which often correlates with bitcoin's performance. The company’s shares have increased by 107% so far in 2024, while bitcoin has risen approximately 40% during the same period.

#markets #cryptocurrency #bitcoin #blockchain

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