GameStop Corporation (NYSE:GME) was plunging about 8% lower on Friday, although due to a 4-1 stock split the stock appeared to be down 76%. The split brought shares of the video gaming retailer’s stock down from Thursday’s closing price of $153.47 to a split-adjusted price of $36.88 when the trading session opened.
The stock split means that every shareholder received 3 additional shares for each share of GameStop they owned. The split made shares of the company more attractive to retail investors and for options traders because the price of both calls and puts has become more affordable.
