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GameStop investors’ motives: Take a YOLO bet. ‘Ruin a billionaire’s life.’ 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. ....
Print 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. ....