Finance

GameStop’s fall continues despite easing of broker restrictions, down 25% today and 80% on the week

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GameStop’s stock is tanking again on Thursday, as the Reddit-fueled trade continues to unravel.

Shares of GameStop are down more than 25% on Thursday, brining the brick-and-mortar video game retailer’s weekly losses to nearly 80%.

The drop in price comes despite the rollback of trading limits from stock trading app Robinhood.

Last week, GameStop experienced a meteoric rise in a major short squeeze orchestrated by Reddit users. Point-and-click investors piled into the name, driving its share price up 400%, while hedge funds rushed to cover their losses from shorting the stock.

Short selling is a strategy in which investors borrow shares of a stock at a…



Source cnbc.com

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