Published , by Donovan Erskine
Published , by Donovan Erskine
GameStop continues to be one of the more fascinating companies to follow in the gaming and tech space. Now, the company will soon make an interesting move with its stock. GameStop has announced that its board has declared to perform a four-for-one stock split.
GameStop announced today that it would soon be performing a four-for-one stock split. In the news release, the company provides specific details surrounding the stock split. “Company stockholders of record at the close of business on July 18, 2022 will receive a dividend of three additional shares of the Company’s Class A common stock for each then-held share of Class A common stock. The stock dividend will be distributed after the close of trading on July 21, 2022. Trading will begin on a stock split-adjusted basis on July 22, 2022.”
When markets closed today, GameStop (GME) stock was valued at $117.41. Following the news of the upcoming stock split, the stock climbed as high as $125.45 in after hours trading. The stock dividend will lead to a decreased price in the stock, causing investors to flock to it. GameStop is just the latest company to announce a stock split. A couple months ago, Nintendo announced that it would be doing a ten-for-one stock split. GameStop’s split was approved by shareholders during the company’s annual meeting in June.
It will be interesting to see what impact the upcoming stock split has on GameStop (GME) and its stock, both short-term and long-term. Specifically, we’ll be watching closely when the company reports its latest round of quarterly earnings in September. For the latest updates on everything happening at GameStop, stick with Shacknews.