It’s been more than five years since GameStop (GME) turned Wall Street upside down and became the king of meme stocks. You may remember back in January 2021 when GameStop jumped 1,700% in a matter of days as part of a short squeeze spearheaded by retail traders on Reddit (RDDT). GameStop gave back much of those gains but still finished the year up nearly 700%, showing the influence retail investors can have when they work together.
GameStop is still alive, but the company is very different from what it was five years ago, having invested heavily in Bitcoin (BTCUSD) last year as part of a corporate treasury strategy. Earlier this year, it announced intentions to complete a “very, very, very big” purchase of a larger consumer company and to turn GameStop into a holding company much like Berkshire Hathaway (BRK.A) (BRK.B).
