Metaplanet Stock Tanks Amid Executive Share Pool Concerns

Metaplanet's stock price has plummeted by nearly 17% this week due to concerns over its executive share pool. The company's CEO, Simon Gerovich, acknowledged that Metaplanet 'had not done a good enough job' communicating the issue with shareholders.

The problem lies in the firm's Series 10 option pool, which was adjusted to remain equal to 20% of fully diluted shares rather than a fixed number. This has allowed the executive award pool to grow significantly while existing shareholders were diluted as Metaplanet continued to issue stock to buy Bitcoin.

Gerovich also addressed criticism over his ties to MMXX Ventures, a Metaplanet shareholder, stating he is a 'significant but non-majority' holder and has no role in its trading decisions. However, investors remain unsatisfied, demanding that the company cancel the roughly 273 million additional shares in the pool.