GME - Hot Stocks: GME stock split; RDW plunges on earnings; W downgrade; IIPR stock offering

GameStop (NYSE:GME) moved back into the spotlight during Friday's trading, rallying on news of a planned stock split. The stock came off its highs of the session, but still showed gains in midday action. In other news, Redwire (RDW) was one of the day's standout decliners, falling about 30% on the release of disappointing quarterly results.  Meanwhile, Wayfair (W) dropped on an analyst's downgrade, amid concerns about slowing sales. At the same time, Innovative Industrial Properties (IIPR) lost ground on news of a stock offering. Gainer GameStop (GME) showed midday strength following the announcement that it will split its stock. The one-time meme-stock favorite said it will ask shareholders to approve an increase in the number of authorized shares, which will allow it to issue a stock dividend.  Spurred on by the news, shares of the video game retailer jumped to $189.77 early in the session, an advance of 14%

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Hot Stocks: GME stock split; RDW plunges on earnings; W downgrade; IIPR stock offering