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Who knew GameStop, that mall standby of the 1980s, would be dominating headlines in 2021? But the strange tale of the video game seller took Wall Street by storm in January 2021 when a group of retail traders, coordinated using the Reddit thread r/WallStreetBets, bid the stock up wildly. The stratospheric jump squeezed powerful short-sellers, including Steve Cohen, Dan Sundheim, and Melvin Capital’s Gabe Plotkin. But GameStop is no penny stock: The company has spent 14 years on the Fortune 500, clocking in most recently in 2020 at No. 464. To be sure, that marked a steady drop from 2010 when it was ranked No. 255. GameStop, which is headquartered in Grapevine, Texas, reported revenues in 2020 of $6.4 billion, but reported a loss of $470 million. As of 2020 the company had 30,000 employees, and operated more than 5,500 stores in 14 countries.
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