On Thursday, the financial report for the first quarter of 2024 was released. The report showed that NIO Inc.'s revenue in the first quarter of 2024 declined 7.2% year-on-year and 42.1% quarter-on-quarter, but through effective cost control, the company's gross margin increased to 4.9%, and gross profit surged 200.5% year-on-year.$MicroStrategy (MSTR.US)$After announcing the stock split, the stock price rose and as of press time, the price has increased by 6.46% to $1390.

On the news front, MicroStrategy will divide its Class A and Class B common stock in a 1:10 ratio "to make it easier for investors and employees to obtain their shares." The stock split will be implemented by distributing stock dividends to holders of MicroStrategy Class A and B common stock at the close of business on August 1, 2024 (record date for dividends). Stock dividends will not affect the voting rights and other rights of shareholders.

Therefore, each holder of MicroStrategy Class A and Class B common stock will receive 9 additional shares of Class A and Class B common stock, respectively. The stocks are expected to be distributed after the close of trading on August 7, 2024, and are expected to begin trading in a split-adjusted manner on August 8, 2024.

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