Business

Who is the Cinderella in the GameStop fairy tale?

Have you heard about GameStop, the most unlikely debutante at the Wall Street ball?

She’s an ugly little duckling of a company: sleepy, declining business, uninspired management, low stock price, thin float (a small number of shares available for purchase). She ought to be a scullery maid — yet here she is, in a fancy dress made by her little helpers, and an unbelievable $20 billion market capitalization, dancing at the ball with the prince himself. Her every turn is a victory for the overlooked and overworked, the shoved-aside and condescended-to of the investing world.

That certainly seems to be what the denizens of the Reddit boards who have boosted the stock to utterly absurd heights think.

Source:

theweek.com

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