Dear GME Stock Fans, Mark Your Calendars for June 2

InvestorPlace2022-05-30

GameStop(NYSE:GME) investors will participate in the annual meeting on June 2One proposal up for vote is a stock splitMany on Wall Street see this as a catalyst for GME stockShareholders of video game...

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Comments

tigernaut
2022-05-31
tigernaut
👍
SereneT
2022-05-30
SereneT
Great
Ahdesfrmsg
2022-05-30
Ahdesfrmsg
Ok
BGTAN
2022-05-30
BGTAN
K
Asphen
2022-05-30
Asphen
Not sure if this would be good for GME
Dragonbody
2022-05-30
Dragonbody
[Miser] [Miser]

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Market observers see this event as a potential catalyst for GME stock.GME stock has gained 36% over the past five trading days, largely in anticipation of the vote on June 2. In March, GameStop’sshare price jumped 17% higher when it was first reported that the management team plans to split the stock on an apparent 3-for-1 basis, increasing the number of Class A common stock to 1 billion shares from 300 million shares previously.GameStop is following several other notable companies in announcing stock splits this year, including Alphabet(NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN) and Tesla(NASDAQ:TSLA).What Happened With GME StockGameStopofficially announced plans for a stock split on March 31 of this year. That the stock split vote will officially happen on June 2 has investors excited, and many are buying GME shares ahead of time.GameStop continues to see its share price fluctuate wildly.This year, GME stock has been as high as $190 and as low as $78. Many analysts have speculated in recent months that the stock split could prove to be a major catalyst for GameStop shares and send the price sharply higher.Why It MattersWith the meme stock craze cooling, GameStop’s share price has fallen steeply from its 52-week high of $344.66. The company continues to focus on moving away from its original brick-and-mortar retail network and toward an e-commerce business model. But the move to a more digitally oriented company has yet to gain a lot of traction.The proposed 3-for-1 stock split would take GME stock’s price down to $42.82 a share based on yesterday’s closing price. 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