After-Hours Alert: Why GameStop Stock Is Surging

GameStop Corp GME shares are trading higher in Wednesday's after-hours session after the company announced a stock split.

GameStop said its board approved a four-for-one stock split in the form of a stock dividend. GameStop shareholders of record at the close of business on July 18 are set to receive a dividend of three additional shares of common stock for each then-held share of common stock. The stock dividend will be distributed after the market closes on July 21.

The news shouldn't come as a complete surprise. In April, the company disclosed in an SEC filing that it planned to implement a stock split.

See Also: What Does GameStop's Share Split Mean For The Short Squeeze?

GameStop Corp is a U.S. multichannel video game, consumer electronics and services retailer. The stock is extremely popular among retail investors.

GME Price Action: GameStop has traded between $255.69 and $77.58 over a 52-week period.

The stock was up 3.82% in after hours at $121.91 at press time, according to data from Benzinga Pro.

Photo: JJBers from Flickr.