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GameStop's plunge erases US$11bn as trades curbed

GameStop’s plunge erases US$11bn as trades curbed
Bloomberg
GameStop Corp on Thursday plummeted, snapping a dizzying six-day rally and wiping out nearly US$11 billion in market value after brokers choked off demand for the stock by curbing trading on the apps used by the firm’s zealous fan base.
On Thursday, the stock plunged 44 percent after Robinhood Markets, Interactive Brokers Group Inc and others took steps to curtail activity in several high-flying stocks, including GameStop and AMC Entertainment Holdings Inc.
E*Trade Financial Corp is preventing customers from purchasing shares of both firms, a person familiar with the matter said.

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