GameStop, Reddit, and Market Mania: What Happened?

Over the course of 11 trading days in late January 2021, the stock of GameStop, a struggling brick-and-mortar video game retailer, skyrocketed by more than 2,200% — creating a mix of excitement and concern throughout the financial world.1 Other stocks of small, struggling companies made similar though less dramatic moves.

Meme stock trader sitting in front of laptop. Chart: GameStop opened at $20.42 on 1/13/21, reached $483 intraday on 1/28/21, closed at $53.50 on 2/4/21 and closed at $45.94 on 2/17/21