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.
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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