GameStop Corp shares rise nearly 5% after its four-for-one stock split

In premarket trading on Thursday, shares of GameStop Corp rose nearly 5% after the video game retailer announced a four-for-one stock split.

The move comes as GameStop shares have dropped 20% this year, mirroring a drop in stocks that soared during the 2008 financial crisis.

This year, GameStop will split its stock with Amazon and Alphabet, the parent company of Google.

The retailer’s stock has dropped 20% this year, mirroring a drop in stocks that soared during the 2008 financial crisis.

In 2021, when retail investors banded together to punish hedge funds that bet against the stocks, GameStop was at the epicentre of the meme-stock trading phenomenon.