🔴 MLI is trading 4.4% down today as traders lock in profits following a stock-split-driven surge

MLI is trading 4.4% down at $128.42 as the stock consolidates following a sharp run-up tied to its recently announced 2-for-1 stock split.

• Traders are likely locking in profits ahead of the June 30 distribution date and the start of split-adjusted trading on July 1.
• The pullback follows a period of record highs and heavy buying interest leading up to the June 25 record date.