Shares of GameStop are surging before the market open on Friday after the video game company said that it plans to split its stock.
Author Ben Mezrich discusses his new book “The Antisocial Network: The Gamestop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to its Knees.”Shares of GameStop surged Friday after the video game retailer announced that it would attempt its first stock split in 15 years.
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. In addition, Alphabet, Google’s parent company, announced a 20-for-1 split in February. Amazon said this month that it would do a split of the same ratio.
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