GameStop Shares Surge 10% After Four-for-One Stock Split

GameStop Corp. shares jumped 10% in the opening minutes of Thursday’s session after announcing a four-for-one stock split in the form of a dividend, becoming one of the latest companies to do so as the practice has gained in popularity.

Share splits had almost disappeared from U.S. stock markets before Apple Inc. and Tesla Inc. revived the practice after splitting their stocks in 2020. Inc. followed suit earlier this year. The moves helped trigger rallies in the companies’ shares as retail investors, who tend to favor stocks with lower price tags, flocked to them.