MicroStrategy(MSTR.US) will split its shares 1:10 in early August, with the stock up more than 6% pre-market.

We learned from Zhitong Finance that MicroStrategy(MSTR.US) will split its Class A and Class B shares 10:1 to "make it easier for investors and employees to own its shares". The stock split will be implemented by distributing stock dividends to shareholders who hold MicroStrategy Class A and Class B shares as of the close of business on August 1, 2024 (the dividend record date). The stock dividends will have no effect on shareholders' voting rights or other rights.

As a result, each holder of a Class A and Class B share of MicroStrategy will receive 9 additional Class A and Class B shares respectively. The stock is expected to be distributed after the close of trading on August 7, 2024 and is expected to begin trading at the adjusted split price after the opening of trading on August 8, 2024.

As of the time of writing, MicroStrategy's stock price was up 6.15% at $1386.