By Stephen Nakrosis
Shares of GameStop Corp. were trading 17% higher in Thursday’s after-hours market, following the retailer’s announcement it intends to seek shareholder approval to split its Class A common stock.
At 4:42 p.m. ET, the company’s shares were trading 17% higher at $194.75 each. The stock finished the day’s regular-trading session with a 0.2% loss, closing at $166.58.
The company said it intends to seek approval to increase the number of authorized shares of Class A common stock from 300 million to one billion in order to implement a stock split.
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