![]() ![]() Posters on the subReddit r/WallStreetBets took notice that one of their peers - who, naturally, goes by the name “DeepFuckingValue” - was getting a big return on his early investment in the retailer. And then, in mid-January, it took off like a rocket. The company got a shot of good news in 2020, when it saw a jump in online sales and an investment from a guy who’d had success in online sales of pet supplies, and GameStop stock ended the year worth about $20 a share. ![]() GameStop, Reddit, and Hedge Funds, Explainedįor the past five years, Gamestop has looked a lot like other brick-and-mortar retail businesses: a former success of the “hanging out at the mall” era that was now struggling in the age of e-commerce. By Thursday, it was the story of just how far powerful people would go to prevent that from happening, even once.Īnd then it got even weirder. When I started writing this on Wednesday evening, I thought I was chronicling how internet virality can upset that balance - if only briefly. It’s the story of the economy we all live in a winner-take-all death sport where the same team always wins. That’s because the GameStop story isn’t really about stocks.
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