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After a meteor falls, Norton G. Fester sees it land and goes to it. This meteor turns out to be just the type he's been seeking. He thinks that by using this meteor, he will be able to prove that meteors contain microscopic living matter and "solve the riddle of the universe."
However, he needs money to finance his research into the origin of life in the universe. And, try as he does, no one is willing to lend him money. Unable to raise enough money for a fancy lab and expensive equipment, he uses his own equipment and chips away at the meteor on his own. As he is chiseling, he accidentally hits a gas pocket. The gas hits him and seeps into his skin. After the wisps of gas fade away, he realizes that as a result his muscles have many times their normal power and his strength had been multiplied many times. Norton G. Fester then employs a costume and names him self Looter and becomes a one-man crime wave.
One day, Peter Parker is at a space exhibit. While studying the displays, the Looter makes his entrance and attempts to steal a new meteor found. He intended to steal it in order to insure his power. Peter changes into Spider-Man. The two fight for a bit, but Looter eventually makes his getaway by tipping over a huge giant iron ship model on a crowd he blinded with his dazzle gun. He ran away while Spider-Man saved them.
The next day, the Looter makes his second attempt to steal the meteor. But he had never expected Spider-Man to interfere again. Looter attempts to fly away in a helium balloon, but Spider-Man eventually gets the better of him and hands Norton over to the police.