Mar 31, 2022
GameStop Shares Surge on Plans for Stock Split
Bloomberg News
,(Bloomberg) -- GameStop Corp. shares surged as much as 22% in extended trading after it announced plans to ask shareholders for approval of a stock split in the form of a dividend.
At its upcoming annual meeting, the gaming retailer will request that shareholders approve a proposal to increase the number of Class A shares to 1 billion from 300 million, according to a filing Thursday with the U.S. Securities and Exchange Commission. The stock jumped to a high of $203.98 after closing at $166.58 in New York.
The Grapevine, Texas-based company said the split would “provide flexibility for future corporate needs.”
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