And now, the company’s shares are up by over 1,600%

Nine investors earned an instant $16 billion with GameStop stock. Source: flickr.com

The nine investors include grand fund running firms such as BlackRock and Fidelity’s FMR, according to Investors.com. Other individuals such as Ryan Cohen, Chewy co-founder also benefited from the increase in GameStop’s stock value.

From their GameStop stocks, the nine made approximately $16 billion in January only. This translates to three-quarters of the $20.4 billion in GameStop’s value this year. GameStop’s value has now risen from $1.3 billion to $22.7 billion in just a month.

And now, the company’s shares are up by over 1,600%, making it the most valuable stock in the S&P SmallCap 600 index. The recent ranking makes it three times more valuable than Cleveland-Cliffs which is index number 2 and is valued at $7.3 billion.

In terms of market value, the mall-based video game seller would rank 257 on the S&P 500 benchmark. It tops Campell Soup and Nasdaq.

However, analysts have rated the company as an underperformer based on the stock on average. Since it’s still a member of the Russell 2000 and S&P Small Cap 600 index, ETFs and large index small-cap funds are mandated to own it.

Currently, Fidelity FMR is GameStop’s top holder, owning 9.5 million shares. However, almost 14% of shares were outstanding from September. Fidelity gained $3 billion in profits this year.

Vanguard, which owns 7.6% earned $1.6 billion while BlackRock earned $2.6 billion. BlackRock owns 12.3% of GameStop.

Ryan Cohen, Chewy co-founder is now GameStop’s single-individual owner after Jan. 10, 2021. He currently owns 9 million shares.

Other large GameStop investors include Susquehanna International Group, Senvest Management, MUST Asset Management, Dimensional Fund Advisors, and Donald A. Foss.

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