What do you do when your stock becomes an inflated joke? Heck, what
can you do? This is the question several companies have pondered over the past few weeks, as a social-media-driven trading frenzy propelled struggling stocks to implausible highs.
The epitome of the trading fever was GameStop, the past-its-prime video game chain whose stock, which was trading as low as $10 in September 2020, hit $347 on January 27, 2021, courtesy in part, of a tweet by influencer and richest human on Earth Elon Musk; as of February 8, the stock’s price had plummeted to $66 – less impressive, but still well above its December valuation.