The recent trading frenzy around GameStop Corp and other so-called "meme" stocks highlights shortcomings and challenges in the U.S. markets as retail investors become a bigger presence, exchange leaders said on Tuesday.
By Reuters Staff
1 Min Read
FILE PHOTO: GameStop logo is seen near displayed stock graph in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) - Shares of GameStop Corp slid further in early trade on Tuesday, continuing a slump that has seen the videogame retailer’s stock shed a third of its value so far this week.
The company’s shares were down 16.4% at $184, on track for their worst weekly performance since early February, with a drop of more than 30% since Friday’s close.
Other so-called meme stocks, popular with online retail traders, declined early in Tuesday’s session, with cinema operator AMC Entertainment Holdings Inc down 8.6%, while headphones maker Koss Corp fell 7.1%.
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