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Bloomberg
GameStop Corp shares surged as much as 22% in extended trading after the company said it plans to ask shareholders for approval of a stock split in the form of a dividend.
The gaming retailer will request at its upcoming annual meeting that shareholders approve a proposal to increase the number of Class A shares to 1 billion from 300 million, according to a filing with the US Securities and Exchange Commission. The stock jumped to a high of $203.98 after closing at $166.58 in New York.
GameStop’s shares have swung over the past year as the company became a poster child for so-called meme stocks.