GameStop jumps over 6% in extended trading after announcing 4-for-1 stock split https://www.cnbc.com/2022/07/06/gam...ing-after-announcing-4-for-1-stock-split.html PUBLISHED WED, JUL 6 20224:43 PM EDTUPDATED 37 MIN AGO Sarah Min@_SARAHMIN GME+8.81 (+7.50%) A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. Brendan McDermid | Reuters Shares of GameStop jumped more than 6% in extended trading Wednesday after the retailer said a 4-for-1 stock split was approved by its board. Shareholders who own the stock at the close of the market on July 18 will get a dividend of three additional shares for each of the company’s Class A common stock, the retailer said. The dividend will be distributed after trading closes on July 21, and will start trading on a split-adjusted basis the following day. A stock split is issued when companies want to boost the number of shares and make them more affordable for investors. On Wednesday, GameStop closed at $117.43 per share. The so-called meme stock has posted volatile one-day moves since gaining attention last year as a group of retail investors coordinated a short squeeze on the stock, spurring its price higher. Shares have since retreated from their highs, down more than 20% year to date.
GME is a bellwether for whether this bear market has truly purged the excess, or turns out to be just a larger-than-usual dip to buy. So far it's looking like the Fed will blink in a few months, with new ATHs in a year or so, versus a proper dotcom-style cleanout.
If it could not generate buying interest in AMZN, it sure as HELL is not going to generate interest in Gamestop.
Nah thats a different kind of investor group. Also GME is now like TSLA earlier - no matter how shitty, the price will never fall too much because of all the shorts that can get squeezed