(Reuters) – Game retailer GameStop Corp said on Thursday it will seek shareholder approval to increase its number of shares and enable a stock split in the form of a dividend “to provide flexibility for future corporate needs”.
One of the biggest beneficiaries of a “meme-stock” retail-trading frenzy that ensued after pandemic-related lockdowns began to disrupt global economies, GameStop’s shares have rocketed from around $3 in March 2020 to over $165 at Thursday’s close.
The company’s shares jumped 14% to more than $191 in after-hours trading on Thursday.
GameStop joins the likes of Tesla Inc, Alphabet Inc, Amazon.com Inc and Apple Inc, which too have split their shares to make them more affordable in recent months.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta)
