GameStop shares wiped out earlier gains and closed lower on Friday after the company said it planned to implement a stock split. The video game retailer will seek stockholder approval at its next shareholder meeting for an increase in the number of Class A common stock from 300,000,000 to 1,000,000,000 to partly conduct a stock split in the form of a stock dividend, the company said Thursday after the bell that it's shares of the meme stock surged more than 10% at one point Friday but finished the session about 1% lower. The company anounced earlier this year that they were going to be incorporating NFTs to the company's portfolio. As the KING of meme stocks, this is big news for the company. The decisions has been meet with mixed feelings from both retail and institutional investors.
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