GameStop (GME) shares are surging in immediately after-hours following an announcement trying to find a stock split.
The video clip video game retailer’s inventory gained as significantly as 20%, surpassing the $200 level.
The firm claimed in an 8-K SEC filing it strategies to request stockholder approval at its forthcoming once-a-year shareholder conference to increase the number of authorized Course A shares from 300 million to 1 billion in purchase to put into action the split by a dividend.
Retail traders bullish on the flagship meme inventory expressed their enthusiasm.
“GameStop also intends to ask for stockholder approval at the Annual Conference for a new incentive program (the “2022 Equity Plan”) to support future compensatory fairness issuances,” reported the filing.
“GameStop’s Board of Directors has authorised equally stockholder proposals, but the stock dividend will be contingent on last Board approval,” it went on.
GameStop shares were on a tear about a span of 10 days in March following chairman Ryan Cohen bought 100,000 shares of the video activity retailer earlier this month.
Ines is a marketplaces reporter masking shares from the floor of the New York Stock Exchange. Adhere to her on Twitter at @ines_ferre
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