(Reuters). – Shares GameStop Corp Premarket trading rose 15% on Friday for the NYSE after the retailer of video games, which was at the center of the retail trading frenzy last year, announced that it will seek approval from shareholders to split the stock.

It comes at a time when shares of GameStop (NYSE:) and similar “meme” stocks like AMC Entertainment are experiencing renewed interest from institutional investors. They are buying riskier assets in hopes that Russia will end its conflict with Ukraine.

GameStop shares nearly doubled in price in two weeks. They rose 15% to $192 due to bets that a stock splitting, which lowers the cost of shares and attracts more retailers, will increase the retailer’s value.

Stock splits are becoming more common as companies look to manage “their stock price in what is considered an investor-friendly range”, said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Nvidia (NASDAQ) has split its shares in the last two years. Tesla (NASDAQ) and Apple (NASDAQ) announced recent share splittings. Amazon (NASDAQ) and Google’s parent Alphabet have also recently declared future splits.

Are splits the new buyback?” “Probably not. But highlights an additional tool for pushing stock prices higher, despite financial theory stating otherwise,” J.P. Morgan analysts stated in a note.

Silverblatt suggested that stock splits may be possible, noting that eight stocks were priced at over $1,000 while 15 are between $500 and $1,000.

Most of the stock shares in the companies that announced their splits so far traded at over $500 when they were first made.

AMC and Bed Bath and Beyond Inc were another retailer darling before Friday’s opening bell. Shares gained nearly 3% and almost 5%.