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