GameStop Stock Surges 9% in Morning Trading

Tiger Newspress2022-07-07

GameStop Stock Surges 9% in Morning Trading.

GameStop's board has approved a 4-for-1 stock split that will make it more affordable for investors.

GameStop Corp's board has approved a four-for-one stock split that will make it more affordable for investors to own shares of the video-game retailer at the center of last year's "meme stock" trading frenzy.

Several major U.S. companies have opted for stock splits over the past two years, including Apple, Tesla and Amazon.com.

A stock split makes shares more affordable for individual investors by lowering the price without affecting the company's valuation.

Shares of GameStop skyrocketed more than 680% in 2021 thanks to retail traders on social media platforms such as Reddit who snapped up heavily shorted stocks in a bid to squeeze out hedge funds betting against them.

"GameStop management knows that they have a 100% retail shareholder base and so, they are catering to them," said Wedbush Securities analyst Michael Pachter.

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Comments

Crunch
2022-07-08
Crunch
Y
Louis970
2022-07-07
Louis970
Ok
jayjong
2022-07-07
jayjong
drs your gme shares
JJ918
2022-07-07
JJ918
ok

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