Jakub Porzycki/NurPhoto via Getty Images
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…