In Texas, GameStop Corporations announced that its Board of Directors gave the green light for a four-for-one stock split on Wednesday, although GameStop had revealed its plans for the stock split in March. Yesterday’s announcement resulted in GameStop shares rising up to 10% just minutes into Thursday’s trading session.
Wednesday’s stock-split update gives stockholders and investors more information on the number of shares and when the split goes into effect. The split permits Gamestop stockholders to obtain three additional shares for each of their held shares when the business closes on July 18, 2022.
The stock dividend will be distributed upon the close of the split on July 21, 2022.
GameStop said in their statement that the following day, July 22, 2022, will be when trading is commenced on a stock split-adjusted basis.