The Next GameStop Is a Faded Brand in the Metaverse
Shares of former high-flying smartphone brand HTC have doubled as investors feed on hope and hype.
An HTC Corp. Vive virtual reality headset in 2019.
Photographer: Jason Alden/BloombergIt’s becoming a familiar story: A once-famous brand, beloved by fans but unable to keep up with changing times, loses money hand over fist and its shares get beaten down. Suddenly, retail investors decide it’s worth another look, and off the stock goes — to the moon.
Back in January, GameStop Corp. became the cause celebre for underdogs and small shareholders seeking to inject some democracy back into equities markets. Now, shares of Taiwan’s HTC Corp. are enjoying a return to glory after a decline of 97% from the heyday when the brand was synonymous with leading-edge handsets. Its story is strikingly similar to the U.S. games and software retailer.