GameStop stock soars after hours amid stock split announcement

GameStop (GME) shares are surging in right after-hrs next an announcement looking for a stock split.

The video clip recreation retailer’s inventory acquired as considerably as 20%, surpassing the $200 degree.

The organization mentioned in an 8-K SEC filing it ideas to ask for stockholder acceptance at its future once-a-year shareholder conference to maximize the quantity of licensed Course A shares from 300 million to 1 billion in get to carry out the break up by way of a dividend.

Retail traders bullish on the flagship meme inventory expressed their enthusiasm.

“GameStop also intends to ask for stockholder acceptance at the Annual Meeting for a new incentive prepare (the “2022 Equity Plan”) to support long term compensatory fairness issuances,” reported the filing.

“GameStop’s Board of Directors has authorized both stockholder proposals, but the stock dividend will be contingent on remaining Board approval,” it went on.

GameStop shares ended up on a tear around a span of 10 days in March immediately after chairman Ryan Cohen purchased 100,000 shares of the video game retailer before this month.

Ines is a markets reporter covering shares from the floor of the New York Inventory Trade. Observe her on Twitter at @ines_ferre

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