GameStop (GME) announced a 4-for-1 stock split effective on Friday, July 22nd, 2022 for shareholders on record as of July 18th.
Post split shares are expected to be credited to shareholders’ accounts on Friday, July 22nd.
To learn more about stock splits and why they happen, read more here.
How many shares will I receive one the GME stock split takes place?
A 4-for-1 stock split means you will receive 4 post split shares in exchange for each share you own pre split. For example, if you owned 10 shares of GME on July 18th (record date), these shares would be exchanged for 40 post split GME shares.
When will I receive my new shares of GME post split?
Shares are expected to be credited to your Invest account on July 22nd 2022.
Will this split affect the value of my GME holding?
Splits do not impact the value of your holding. However, account and position market values may display incorrectly on SoFi during the weekend as share counts update prior to the price updating during Monday market hours. Please note that the action of a stock split, there may be movement in the market that could cause the post split share price to fluctuate.
If I already own shares of GME, what do I need to do to take part in the stock split?
There is nothing that you need to do to ensure your shares are included in the stock split. When a company has a stock split, it is automatically applied to all shares.
If I want to participate in the GME stock split, when do I need to own the shares?
In order to participate in the GME stock split you would’ve needed to own shares before the market opened on July 18th, 2022.
Can I sell the new shares received in the stock split immediately?
Post-split shares should be in members’ accounts before trading begins at 9:30 AM EST on Friday, July 22nd, and available to sell once the market opens.
Will fractional shares in GME be impacted by the split?
Fractional share positions will operate just like whole shares. All fractional positions of GME will receive 4x the amount of their pre-split position. For instance, if you owned 0.5 fractional shares of GME, you would receive 2 whole shares post-split (4 x 0.5) in exchange.
What will happen if I have an open market-on-open order during pre-market on Friday, July 22nd?
Market-on-open orders for GME will not be executed on Friday, July 22nd and will automatically cancel given the stock split.
What will happen if I have an open limit order during the split?
All open limit orders for GME will automatically be canceled prior to the market open on Friday, July 22nd. This is an automatic action taken by our clearing firm for all securities that undergo corporate actions. You will need to resubmit a new limit order once trading begins on Friday, July 22nd.
GameStop said it is a stock split paid as a stock dividend. What will happen?
With a stock dividend, additional shares are given to shareholders whereas in stock splits already issued shares are split in an agreed ratio. The price per share will still decrease by the agreed ratio. GME has stated that this form of stock split will provide flexibility for future corporate needs.