This Surprise Stock Split Has Retail Investors Celebrating
Thursday morning brought a measure of confidence to Wall Street, as investors liked signs that the worst of inflationary pressures might be behind them. With oil prices having fallen below the $100 per barrel mark, it's at least possible that a pullback in prices at the pump could bring a month or two of lower increases in the U.S. consumer price index, which in turn could ease fears of sustained and entrenched inflation. As of 8 a.m. ET, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) had climbed 113 points to 31,126. S&P 500 (SNPINDEX: ^GSPC) futures had moved up 11 points to 3,859, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had given investors a 47-point bump to 11,928.
For a year and a half now, individual investors have focused much of their attention on GameStop (NYSE: GME). The pioneering retailer specializing in video games and related accessories had fallen on hard times, but plans to reinvent itself as a video game-centered e-commerce specialist ignited the dreams of retail investors and sent shares soaring. Despite huge swings, GameStop stock has held onto a huge portion of its gains, and the company just gave investors another positive sign of its confidence in its long-term future.
Shares of GameStop climbed more than 5% on Thursday morning. Investors reacted positively to the company's announcement that it would split its shares.
Source Fool.com
