GameStop rout erases $26bn as stock gives up spectacular gains
January’s rally was fuelled by attack on short sellers from Reddit day traders
02 February 2021 - 17:30
New York — GameStop's rally fizzled further on Tuesday, meaning the stock has now given up almost 80% of the spectacular gains that were fuelled by January's attack on short sellers from Reddit day traders.
The stock tumbled to $104 in New York, after triggering its first volatility pause of the day. The video-game retailer’s market value has dwindled by $26bn to $7.4bn from a Thursday intraday peak, though the stock is still up almost 500% in the year to date...
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