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GameStop Roller Coaster Pauses After $27 Billion Rout

  • Stock edges higher in premarket after 60% plunge on Tuesday
  • AMC Entertainment shares also rebound in ‘dead cat bounce’
Bloomberg business news
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GameStop Corp.’s rapid reversal paused on Wednesday, although last week’s massive peak remains a distant memory after frenzied trading activity cooled.

The stock rose 7% to $96.30 at 6:15 a.m. in U.S. premarket trading, still almost 80% below the record intraday peak of $483 set on Thursday after a community of day traders collaborated to take on the Wall Street establishment and inflict multibillion-dollar losses on hedge funds with large short positions.