GameStop Stock Split to Go Live
4-for-1 Split Effective July 21
Holders of Record as of July 18 Eligible
GameStop Corp. (GME), the video game retailer made famous by the "meme stock" phenomenon, is set to complete its highly anticipated 4-for-1 stock split this week. The new shares will be issued to shareholders of record at the close of business on July 18, 2022, meaning that eligible investors will receive three additional shares for every share they currently own.
The move comes after the company announced the split on July 6, sparking a surge in share prices. In the opening minutes of trading on Thursday, GME shares jumped 10 percent following the announcement.
Stock splits are often used by companies to make their shares more affordable to a wider range of investors. By reducing the share price, GameStop hopes to attract new buyers and increase liquidity in its stock.
The 4-for-1 split will result in a significant increase in the number of GameStop shares outstanding, but it will not affect the company's overall valuation. Shareholders will simply receive more shares with a lower per-share value.
The split is expected to be completed by the end of this week, and shares will begin trading on a split-adjusted basis on July 21. Investors should note that the split will not affect their voting rights or dividend payments.
GameStop's stock split is a major event for the company and its shareholders. It remains to be seen whether the split will have a lasting impact on the stock price, but it is certainly a move that has generated significant interest and excitement among investors.
Comments