Everything Everything Happened During GMEs 2022 Shareholders Meeting: GameStop Stock

Everything Everything Happened During GMEs 2022 Shareholders Meeting: GameStop Stock ...

Get GameStop Corp. Class A Reporthosted its annual shareholder'''' meeting on June 2nd. Market trading saw GME shares soar 10% the same day, although a fair portion of this can be attributed to the company''s Q1 earnings, which were announced on June 1st.

During the annual meeting, key ideas were approved, including a stock split and a GME Incentive Plan. No surprises were to be had - everything went as expected by the company''s board.

Here''s what you, as an investor, should know about the 2022 Shareholders Meeting in GameStop.

Stocks on Figure 1: Everything Happened During the Shareholders Meeting in GMEs 2022

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Wall Street Memes'' stock Q1 Earnings: Business As Usual (Read more)

All Proposals Approved

During this year''s GameStop shareholder meeting, all agendas were approved. These were:

Following GameStop''s board''s strong push for each of these items to be approved, shareholders voted in the affirmative.

Stock Split Approved But No Yet Executed

The most anticipated item during the GMEs meeting was the company''s stock split via a dividend plan. Despite the proposal being approved by shareholders, GameStops has not made a final decision about the stock split.

The stock market has not yet answered questions raised by shareholders about the split''s ratio and how it might affect the share price.

According to the GameStops Board, the next step will be to change the charter to include the increase in the number of authorized shares. Soon after this approval, the Board will determine when, if, and at the ratio GME stock will be divided.

Did The Apes Get the News They Wanted?

The post-shareholder meeting reaction at GameStop was not as bombastic as expected. Shares traded sideways after hours, and GME was actually down 2% during the following days pre-market trading.

During the discussion, GameStop CEO Matt Furlong answered questions about the company''s operations and other initiatives, particularly in crypto, NFT, and Web 3.0 spaces. Furlong also reinforced GameStop''s vision for its physical stores, which he believes is still a component of the company''s future.

"It''s important to know that many of you are individual stockholders rather than institutional investors. We never take your desire, or your investment, for granted. When I say that we are proud to be aligned with you, please trust.

Furlong answered the questions about whether GameStop will allow IRA and 401k shares to be registered direct with their transfer agent, Computershare (as it turns out, the latter option isn''t currently viable).

Although several significant and significant recommendations were (unsurprisingly) approved, this was mostly a "business-as-usual" event for GameStop. Nevertheless, the company''s stock split may make significant gains in the market.

(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report. Aside from that, the article may include affiliate links. These partnerships do not influence editorial content. Thank you for supporting Wall Street Memes

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