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GameStop Sinks as Short Interest Drops, Retail Recalibrates

  • Short interest plunged to 53% of its available shares: S3
  • GameStop extends declines, falling 23% in postmarket trading
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GameStop Corp. tumbled as much as 34% on Monday as bearish investors appeared to cover their positions while retail traders flocked to other corners of the market.

The video-game retailer fell for the second time in three sessions as trading volume also slowed after last week’s sharp gains. The decline came as bets against the company appeared to plummet, according to a pair of market intelligence firms.