The share split is planned at a ratio of 1:4.
(Photo: AP)
Bangalore The US company approved a 1:4 stock split. At the regular close of trading on Wednesday, a GameStop share certificate cost $117.43. A stock split allows companies to increase the number of shares they hold. This also makes access easier for small investors.
GameStop plans to pay out the additional shares in the form of a stock dividend. Investors receive additional share certificates instead of cash. The stock rose more than 5 percent in after-hours trading.
GameStop is one of the so-called “meme stocks” that small investors call on each other to buy in relevant Internet forums such as Reddit. This has affected hedge funds in the past, which had speculated on a price decline by short selling.
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