GameStop Corp GME shares are trading higher Wednesday ahead of the company's four-for-one stock split.
GameStop's board approved a four-for-one split in the form of a stock dividend at the beginning of July. GameStop shareholders of record at the close of business on July 18 will receive a dividend of three additional shares for each then-held share. The stock dividend will be distributed after the market closes on Thursday.
GameStop was also among the most mentioned stocks on r/wallstreetbets over the last 24 hours.
AMC Entertainment Holdings Inc AMC shares surged on Wednesday after the company highlighted the strength of its balance sheet. AMC said it was able to repurchase more than $72 million of second lien debt at a significant discount during the second quarter. GameStop and AMC often move in tandem as the pair of stocks are extremely popular among retail investors.
See Also: AMC Entertainment CEO Highlights 'War Chest Of Cash': What's Going On With AMC Stock?
GME Price Action: GameStop has traded between $255.69 and $77.58 over a 52-week period.
The stock was up 4.63% at $158.48 at press time, according to data from Benzinga Pro.
Photo: JJBers from Flickr.
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