Markets Magazine
GameStop’s HODLers Keep Hanging On
Chairman Ryan Cohen’s ‘Oz-like’ quality has helped minimize losses in the video-game seller’s stock.
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It’s been a rough year: Global markets have lost trillions of dollars in value, and consumers are being pinched by inflation. In the face of it all, some meme-stock die-hards remain undeterred.
Individuals who bought GameStop Corp. early in the frenzy are still sitting on massive paper returns that outshine those of other speculative investments. Since the end of 2020, the video game retailer’s stock was up 501% as of Oct. 31, compared with the 3% rise for the benchmark S&P 500 and the 26% drop in a basket of 37 meme stocks tracked by Bloomberg.