In December of 2020,

video game retailer GameStop reported an operating loss of $63 million in the previous quarter

on the back of an 11% reduction in the store base.

The story, just one of dozens of such reports flooding

the financial newswires, meant little to the general public and went largely

unnoticed. Two groups did show an interest in the news, however.

The Wall Street vultures who see every faltering company as an easy source of money in the futures markets,

and a small band of retail investors who saw the potential for the floundering gaming franchise to turn things around.

Within a matter of weeks, these two groups would clash in one of the most spectacular stock market face-offs in recent memory.

Even the White House got drawn into the saga.

I was concerned about the stock market activity we're seeing around GameStop and

now with some other stocks as well including the subsidiary or whatever the

company that was a blockbuster and have there been any conversations with the

SEC about how to proceed?

Well, I'm also happy to repeat that we have the first female Treasury Secretary and a team

that's surrounding her and often questions about market will

send to them but our team is of course our economic team including Secretary

Yellen and others are monitoring the situation.

The human drama in the story made it easily recognizable as a David versus Goliath narrative.

Here was a ragtag band of mom and pop, or in this case, millennial, investors going up against the hedge fund billionaires.

And just as it seemed they may actually have an effect, the full power of the financial

and political system seemed to swoop in to suppress them.

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