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GameStop Shares Plunge Below $100 As WallStreetBets Traders Face Huge Losses

GRAPEVINE (CBSNEWS.COM) — GameStop's stock price cratered on Tuesday, falling 60% to $90 a share. The drop signaled that the popular WallStreetBets Reddit stock market discussion board — a major force behind last week's spectacular rally in the troubled video game retailer's shares and others'— may be losing its magic to move the market.

GameStop store
Vehicles seen parked in front of a GameStop store. (credit: Paul Weaver/SOPA Images/LightRocket via Getty Images)

Grapevine-based GameStop's tumble followed a large reduction in short interest on the stock, which measures how many of the company's shares have been borrowed to sell.

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