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GameStop locked in David-and-Goliath battle between Wall Street and Reddit

28 days ago   |   By Metro

As the pandemic took hold, many predicted GameStop would fail
American video game retailer GameStop has found itself in the middle of a ‘David- and-Goliath' price war between internet investors and established hedge funds.
As the pandemic forced millions across the US to stay at home, many predicted shops like GameStop , which has thousands of brick and mortar locations, would fail.
This led to some hedge funds, which can bet against the future financial health of a company with what's called a stock ‘short', investing millions of dollars in the hope the company would fail.
But in...
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How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investors

How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investors

28 days ago   |   By The Guardian

The video game retailer has become one of the hottest stocks this year in a tale that illustrates the changing face of investing The coronavirus pandemic hit GameStop hard. Like many retailers, already suffering from the shift to online sales, the video games chain is losing money and plans to close 450 stores this year. And yet, surprisingly, GameStop has become one the hottest stocks of the year. The 37-year-old chain store group is now the focus of a David-and-Goliath battle between an army of small investors and Wall Street that shows no signs of abating and has highlighted some...
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