GameStop (GME) shares are surging in just after-hours subsequent an announcement trying to find a stock split.
The movie recreation retailer’s stock obtained as significantly as 20%, surpassing the $200 level.
The corporation said in an 8-K SEC filing it plans to request stockholder approval at its impending annual shareholder conference to raise the range of approved Class A shares from 300 million to 1 billion in buy to implement the break up by a dividend.
Retail traders bullish on the flagship meme stock expressed their enthusiasm.
“GameStop also intends to request stockholder approval at the Yearly Assembly for a new incentive strategy (the “2022 Fairness Plan”) to guidance future compensatory equity issuances,” stated the filing.
“GameStop’s Board of Administrators has accredited each stockholder proposals, but the inventory dividend will be contingent on remaining Board acceptance,” it went on.
GameStop shares had been on a tear over a span of 10 times in March following chairman Ryan Cohen acquired 100,000 shares of the video clip recreation retailer earlier this thirty day period.
Ines is a marketplaces reporter covering stocks from the flooring of the New York Inventory Trade. Stick to her on Twitter at @ines_ferre
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