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GameStop wants to make shares more affordable for meme stock lovers

The bullish “monkeys” on the GameStop may soon be able to buy their favorite products at a cheaper price. price of one share, company. He said Thursday evening in a Securities and Exchange Commission fileling. To do so, GameStop will seek shareholders at its next annual meeting to approve an increase in its share of A shares from 300 million to 1 billion. If investors say yes, at one point it would be much cheaper. – because the total value of the company remains the same. It is divided into additional shares. GameStop shares initially consolidated on the news but ended Friday with less than 1%, reducing their profit to date by 11%. small investors to buy. Amazon and the owner of Google Alphabet, whose shares are trading in four numbers, have both recently announced plans to share their shares. And Tesla, which split shares in August 2020, is considering a split now that stocks are back above $ 1,000. GameStop is trading at around $ 164. Given this current price, the individual share should reach almost one-third less – or about $ 50 – after the split because GameStop is looking to double its stake by 3.33. The company is engaged in a movement that investors are watching closely. . GameStop CEO Ryan Cohen, founder of Chewy online pet store, has bought more shares. Gamestop has also been investing in NFTs and other cryptocurrency and blockchain initiatives, and it recently hired two former Amazon executives to serve as CEO and chief financial officer. Several other meme shares dipped Friday despite GameStop shares news. Shares of AMC theater chain fell by almost 5% in the previous trading session. Shares of Hycroft Mining, a small gold and silver miner, also grew after AMC bought shares in it. Shares of Bed Bath & Beyond, a broker that Cohen recently invested in, fell slightly.

The “monkeys” on GameStop will soon be able to buy their favorite stock at a cheaper price.

Reddit crowdfunders want to start sharing shares, a move that will reduce prices by one percent, the company said late on Thursday. Enter the Securities and Exchange Commission.

To do so, GameStop will seek shareholders at its next annual meeting to seek permission to increase its A-share shares from 300 million to 1 billion.

If investors say yes, one percent will be much cheaper – because the total value of the company stays the same. It is divided into additional shares. GameStop shares initially consolidated on the news but ended Friday with less than 1%, reducing their gains to today to 11%.

Sharing shares is a popular step for some companies whose stocks have risen above a high price, and make it easier for small investors to buy. Amazon and the owner of Google Alphabet, whose shares are trading at four digits, have both recently announced plans to share their shares. And Tesla, which split shares in August 2020, is considering a split now that stocks are back above $ 1,000.

GameStop is trading at around $ 164 a share. Given this current price, the individual share should be about one-third lower – or about $ 50 – after the split because GameStop is looking to double its stake in 3.33.

The company is engaged in a venture that is highly anticipated by investors. GameStop CEO Ryan Cohen, founder of Chewy online pet store, has bought more shares. Gamestop is also investing in NFTs and other cryptocurrency and blockchain plans, and recently hired two former Amazon executives to serve as CEO and chief financial officer.

Several other meme shares sank on Friday despite GameStop news split. Shares of AMC theater chain fell by almost 5% in the previous trading session. Shares of Hycroft Mining, a small gold and silver mining company, also rose after AMC bought shares in it.

Shares of Bed Bath & Beyond, a broker that Cohen recently invested in, have said little.

GameStop wants to make shares more affordable for meme stock lovers Source link GameStop wants to make shares more affordable for meme stock lovers

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