Investing

Reddit Trades Crumble as GameStop, AMC and Silver Plunge

GameStop, AMC shares sink more than 20% in U.S. pre-market
Robinhood has loosened trading restrictions on some stocks

WATCH: Silver’s surge to an eight-year high lost momentum.(Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Michael Msika and Jake Lloyd-Smith

February 2, 2021 at 10:26 AM UTC

Updated on

February 2, 2021 at 2:48 PM UTC

This article is for subscribers only.

The wild run-up of trades popular with Reddit crowds is starting to come crashing down.

GameStop Corp. sank 47% to $118.84 as of 9:42 a.m. in New York. It’s now down 65% from its record close of $347.51 on Wednesday. AMC Entertainment Holdings Inc. slid 39% and Express Inc. lost 26%. Silver tumbled more than 5% after surging to an eight-year high.