GameStop shares plunge 50% as WallStreetBets traders face billions in losses

[brooklynite]

Source: CBS Market Watch

GameStop's stock price plunged on Tuesday, falling more than 50% to around $110 a share at mid-day. The drop also signaled that the popular WallStreetBets Reddit stock market discussion board — a major force behind last week's spectacular rally in the troubled video game retailer's shares and others'—may be losing its magic to move the market.

The GameStop drop followed a large reduction in short interest on the stock, which measures how many of the company's shares have been borrowed to sell. Many had pointed to that previously high short interest, and the fact that hedge funds and others betting against the video game retailer had been squeezed, as a reason GameStop's shares had soared.



Read more: https://www.cbsnews.com/news/gamestop-stock-gme-down-losses/

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But you stuck it to "the Man" so it's all good.....