(AP) – Across most of America, GameStop is just a place to buy a video game.
On Wall Street, though, it’s become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%.
The funds serving the financial elite are starting to walk away in defeat, after bets they made for GameStop’s stock to fall left them facing billions of dollars in collective losses.
The stunning seizure of power gives validation to smaller-pocketed investors.
It also has Wall Street asking if the stock market’s in a dangerous bubble about to pop.