What is happening to GameStop? The video game retailer has seen its stock soar more than 1000% percent in January, from around $17 to $469 at its height. Unlike other bubbles, GameStop’s stock is not rising because traders see potential in its operations. The video game retailer is widely considered a dinosaur in its industry, slated for inevitable extinction. The stock price is rising precisely because investors, namely hedge funds, bet on GameStop failing. These investors chose to short the stock.