GameStop is surging again on first stock split in 15 years

Published April 1, 2022 6:38 AM

By MICHELLE CHAPMAN
AP Business Writer

Shares of GameStop are surging after the video game retailer announced that it would attempt its first stock split in 15 years. The Texas company said in a regulatory filing late Thursday that it wants to increase its share count to 1 billion, from 300 million. A stock split would change the price-per-stock, but not the overall value of those holdings. The maneuver can push up a company’s stock price at least temporarily, and it did so Friday. Shares of GameStop jumped 8% at the opening bell. GameStop’s announcement comes just days after electric vehicle maker Tesla announced its second stock split in less than two years.

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