Reddit moderators jumped in to stop the spread of false information surrounding GameStop’s upcoming stock split.
In early 2021 the Reddit discussion boards played a huge part in the Gamestop Short Squeeze which sent the share price flying. Moderators saw the upcoming split as a concern of an opportunity for pumpers to start spreading misinformation and locked the thread.
Gamestop today made both an 8-k filing with the Securities Exchange Commission. And a press release announcing the boards resolution for a 4-1 stock split.
The split will be effective July 22nd for holders of record as of the 18th. Holders of GameStop will receive 4 shares for each share that they currently own, and the price will also be divided by 4 so theoretically this should not effect the market cap.
