The GameStop Corp. logo on a smartphone and the Robinhood website on a laptop computer.
Tiffany Hagler-Geard | Bloomberg | Getty Images
GameStop, the poster child of a recent speculative retail trading frenzy, tumbled below $50 apiece on Tuesday, as the massive short squeeze took effect and investors booked profits.
The brick-and-mortar video game retailer fell 20% to $47.81 a share on Tuesday, following an 80% drop last week for its worst weekly performance ever. At its all-time high on Jan. 28, the stock was going for $483 a share.
GameStop came into the limelight two weeks ago when an army of retail investors who coordinated trades on Reddit’s WallStreetBets forum pushed the stock up 400%…