The meteoric rise in videogame-retailer GameStop’s stock price from a few dollars to more than $300 in a couple of weeks, swelling its market value to about $25 billion, has made the company and mania surrounding it a household name.
Trading in shares of the beleaguered retailer has gone through the roof. Short interest — bets against the company — exceeds the total shares outstanding, and call and put option volume has been in the tens of millions. Those statistics are an order of magnitude greater than for similar stocks.
Investors, including those on Reddit’s WallStreetBets forum and other social media, have been buying GameStop