In the late 1980s and early 1990s, Marvel Comics stood at the peak of the superhero landscape, riding a wave of unprecedented popularity. What began as a modest comic-book publisher had grown into the dominant force in the US market, capturing an estimated 70% share by 1993. But behind the booming sales and iconic characters, a financial crisis was quietly building.

During this period, comics transformed from collectibles into speculative investments. Fans and investors alike bought stacks of newly released titles, sometimes dozens of copies each, believing they would one day sell for massive profits. Publishers responded with extravagant print runs, variant covers, and flashy marketing. In 1991, Marvel printed millions of copies of X-Force #1 , a symbol of the industry’s excess.

Ronal

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