GameStop (GME) shares are surging in immediately after-several hours next an announcement searching for a inventory split.

The video clip sport retailer’s inventory gained as considerably as 20%, surpassing the $200 degree.

The organization claimed in an 8-K SEC submitting it options to request stockholder acceptance at its impending once-a-year shareholder conference to improve the number of approved Class A shares from 300 million to 1 billion in purchase to implement the split by a dividend.

Retail traders bullish on the flagship meme stock expressed their enthusiasm.

“GameStop also intends to ask for stockholder acceptance at the Annual Assembly for a new incentive plan (the “2022 Fairness Plan”) to help upcoming compensatory fairness issuances,” said the filing.

“GameStop’s Board of Directors has permitted both of those stockholder proposals, but the stock dividend will be contingent on final Board approval,” it went on.

GameStop shares had been on a tear in excess of a span of 10 times in March right after chairman Ryan Cohen purchased 100,000 shares of the movie recreation retailer previously this month.

Ines is a markets reporter masking stocks from the floor of the New York Inventory Trade. Abide by her on Twitter at @ines_ferre

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