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Tags: gamestop stock split | ecommerce | meme

GameStop Board Approves Stock Split Plan, Shares Rise

GameStop Board Approves Stock Split Plan, Shares Rise
(AP)

Wednesday, 06 July 2022 04:41 PM EDT

GameStop Corp. said Wednesday its board has approved a four-for-one stock split, sending the video game retailer's shares up more than 5% in extended trading.

The "meme stock" company in March sought shareholder approval for the split, planning to increase its outstanding Class A common shares to 1 billion from 300 million in a bid to make it easier for retail investors to own its stock.

The split will be in the form of a stock dividend, which will be distributed after markets close on July 21.

Shareholders will receive the dividend of three additional shares of the company's Class A common stock for each share held.

The retailer is making its pivot towards e-commerce to reinvigorate business after the pandemic crushed brick-and-mortar businesses.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
GameStop Corp. said Wednesday its board has approved a four-for-one stock split, sending the video game retailer's shares up more than 5% in extended trading.
gamestop stock split, ecommerce, meme
124
2022-41-06
Wednesday, 06 July 2022 04:41 PM
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