Trader Fred DeMarco works on the floor of the New York Stock Exchange. AP/Richard Drew Stocks fell Monday as investors assessed the outlook on interest rates…
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For some, it was the desire to make a buck. For others, it was fear of missing out, anger at elites or idle curiosity about what was possible in a world where it’s increasingly hard to tell internet jokes from real life.
United by these disparate motivations, a legion of individual investors along with some mighty Wall Street whales turned GameStop, a money-losing video game retail chain, into the hottest stock in ages. After gaining more than 1,000% since the start of the year, its shares jumped another 68% on Friday, to $325, leaving the company worth more than $22 billion on paper.