GameStop Corp GME shares are trading higher Thursday after the company announced a four-for-one stock split.
GameStop said its board approved the four-for-one split in the form of a stock dividend. GameStop shareholders of record at the close of business on July 18 are set to receive a dividend of three additional shares for each share held on the record date. The stock dividend will be distributed after the market closes on July 21.
A few months back, GameStop disclosed in an SEC filing that it planned to increase the number of authorized shares of Class A common stock from 300 million to 1 billion in order to implement a stock split.
GameStop is a U.S. multichannel video game, consumer electronics and services retailer. The stock is extremely popular among retail investors. It was the top trending stock on Stocktwits at press time.
See Also: Why Is GameStop Surging By Around 10%? 22 Stocks Moving In Thursday's Pre-Market Session
GME Price Action: GameStop has traded between $255.69 and $77.58 over a 52-week period.
The stock was up 4.83% at $123.10 at press time, according to data from Benzinga Pro.
Photo: Chris Potter from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
