GameStop jumps over 6% in extended trading after announcing 4-for-1 stock split

GameStop jumps over 6% in extended trading after announcing 4-for-1 stock split


A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022.

Brendan McDermid | Reuters

Shares of GameStop jumped more than 6% in extended trading Wednesday after the retailer said a 4-for-1 stock split was approved by its board.

Shareholders who own the stock at the close of the market on July 18 will get a dividend of three additional shares for each of the company’s Class A common stock, the retailer said. The dividend will be distributed after trading closes on July 21, and will start trading on a split-adjusted basis the following day.

A stock split is issued when companies want to boost the number of shares and make them more affordable for investors. On Wednesday, GameStop closed at $117.43 per share.

The so-called meme stock has posted volatile one-day moves since gaining attention last year as a group of retail investors coordinated a short squeeze on the stock, spurring its price higher. Shares have since retreated from their highs, down more than 20% year to date.



Source

Here are the retailers raising prices as Trump tariffs take hold
Business

Here are the retailers raising prices as Trump tariffs take hold

A person picks out clothing in a store as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, U.S. November 24, 2023.  Vincent Alban | Reuters Consumers who hoped tariffs would not […]

Read More
This is why Jamie Dimon is so gloomy on the economy
Business

This is why Jamie Dimon is so gloomy on the economy

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The more Jamie Dimon worries, the better his bank seems to do. As JPMorgan […]

Read More
Summer rentals in the Hamptons are down 30%
Business

Summer rentals in the Hamptons are down 30%

Key Points Summer rentals in the Hamptons are down 30% from the same period in previous years, according to Judi Desiderio of William Raveis Real Estate. Brokers who focus on ultra-high-end rentals are seeing an even bigger drop and say their rental business is down between 50% and 75%. Some renters may be holding out […]

Read More