Metaplanet shares drop 17% over two days

Metaplanet shares fell approximately 17% to 244 JPY over two trading days. The decline followed a letter from CEO Simon Gerovich to investors addressing criticism regarding the company's executive stock option program and his ties to shareholder MMXX Ventures. The option pool had expanded from 46 million to 319 million potential shares through new issuances. Although the company capped the pool at 319.46 million shares and implemented a five-year lock-up in August, some investors have demanded the cancellation of additional rights.