GameStop board approves stock split plan, shares rise

The split will be in the form of a stock dividend, which will be distributed after markets close on July 21.

GameStop Corp said on Wednesday its board has approved a four-for-one stock split, sending the video game retailer's shares up more than 5% in extended trading, Qazet.az reports.

Shareholders will receive the dividend of three additional shares of the company's Class A common stock for each share held.

The retailer is making its pivot towards e-commerce to reinvigorate business after the pandemic crushed brick-and-mortar businesses.