Bitcoin billionaire Michael Saylor announced that MicroStrategy (MSTR) will undergo a 10-for-1 stock split. The move aims to make the company’s high-valued shares more accessible to smaller investors. The stock split will be executed as a dividend, granting nine additional shares of Class A and Class B stock for every one share owned, effective after trading on August 7, 2024.
$MSTR announces 10-for-1 Stock Split https://t.co/u7sIjWc9we
— Michael Saylor⚡️ (@saylor) July 11, 2024
Following the announcement, MSTR stock rose 5% in pre-market trading. The company’s shares, trading at $1305 at Wednesday’s close, have surged 216% over the past year, driven by MicroStrategy’s significant Bitcoin holdings. The split is expected to allow more investors to participate in the stock, potentially boosting trading volume and market activity.
