The internet and stock market are aflame over GameStop, the video game retailer whose stock is suddenly the darling of day traders who are putting the squeeze on Wall Street¡¯s big players.
The stakes are enormous: The surge in trading drove GameStop¡¯s value up by more than $10 billion on Wednesday alone. On Thursday, as several trading platforms placed restrictions on the stock, the shares slid 44%.
GameStop ¡ª that feature of malls and shopping centers across the U.S. ¡ª was worth about $2 billion in December. By Wednesday, it was worth $24 billion, roughly the same as meat giant Tyson and fuel refiner Valero Energy. On paper, at least.
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