MicroStrategy, a prominent name in the tech world, is planning a 10-for-1 stock split. This move will impact its class A and class B common stock. The decision aims to make the stock more accessible to investors and employees.

The stock split will be done through a stock dividend. This will be given to holders of record of MicroStrategy’s class A and class B common stock. The record date for the dividend is the close of business on August 1, 2024. This dividend will not change the voting and other rights of stockholders.

Each holder of a share of MicroStrategy’s class A common stock and class B common stock will receive nine additional shares. These shares will be distributed after trading closes on August 7, 2024. Trading on a split-adjusted basis will start at market open on August 8, 2024.

Shares of MicroStrategy gained 5.6% in early trading on Thursday. This positive reaction shows strong market confidence in the company’s move. By splitting the stock, MicroStrategy aims to attract more investors and give employees a more significant stake in the company.