GameStop seeks share split amid renewed meme-stock hype

FILE PHOTO: A GameStop store is pictured in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File Photo

(Reuters) -Video game retailer GameStop Corp said on Thursday it would seek shareholder approval for a stock split, aiming to become the latest U.S. company to make it easier for retail investors to own its shares.

The move comes after retail investor interest in so-called 'meme stocks' flared up in the last two weeks, leading to a doubling in GameStop's share price to $166.58. A stock split makes shares more affordable for individual investors by lowering the price, without affecting the company's valuation.