Jan 27, 2022 - Economy
GameStop: One year ago was peak insanity
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Seems like just yesterday everybody sort of coordinated on Reddit to push up the share price of a struggling video game retailer and, like, stick it to the man by, um, buying stocks.
By the numbers: GameStop was up as much 2,463% for the year at its intraday peak on Jan. 27, 2021. That day it closed up 1,745%.
Our thought bubble: GameStop has held on to way more of those gains than I ever would have expected. It's still about 450% higher than its pre-frenzy position.
- The GameStop brouhaha was a high-water mark for the retail trading boom that materialized amid the pandemic.
Where it stands: Individual investors aren't trading nearly as much they were at the height of the Reddit-fueled mania a year ago, as we've reported.
- But they're still more active than at any other point before the pandemic, according to monthly data from retail brokerage firms.
