GameStop, meet gravity. The stock was at the centre of a battle between retail investors and short-selling hedge funds that has triggered regulatory probes. The shares started the year at $18, hit $483 on January 28 and were trading at $49 on Friday morning.
Amid the wild swings, it is easy to forget there is a company at the centre of the fuss. What might the video game retailer be worth, valued on fundamentals?
Spending on video games hit a record $56.9bn last year in the US. But gamers are buying online. They have been skipping the trip to the mall, and to GameStop stores.
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