GameStop (GME) perpetual market

GameStop is a US video game and consumer electronics retailer that became the central symbol of the 2021 meme-stock phenomenon. Founded in its modern form in the 1990s, it built a chain of mall-based stores selling new and used games, consoles and accessories, a business that came under severe pressure as game sales shifted to digital downloads and online competition. In early 2021 its heavily shorted stock became the focus of a coordinated buying frenzy by retail investors organized on social media, who drove the price up dramatically in a short squeeze that inflicted large losses on some hedge funds and captivated the wider public. The episode made GameStop a cultural touchstone for retail-investor power and turned it into a perennially volatile stock disconnected from its underlying fundamentals. The company has since raised cash, closed stores and, under chairman Ryan Cohen, shifted some of its balance sheet toward investments including Bitcoin.