GameStop Wraps Up Worst Week Ever, Leaving $18 Billion Hole
- Stock fell 80% this week for its worst such drop on record
- Reddit favorites had bouts of volatility as retail trades gain
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Even with Friday’s bounce, GameStop Corp. wrapped up its worst week on record as a stunning reversal of fortune wiped out $18 billion from the video-game retailer’s stock-market value.
The stock fell 80% in the last five days, its worst weekly performance on record, to $63.77 in New York. The 19% gain on Friday after Robinhood Markets removed buying limits still left it far below last week’s high of $483 as retail trader demand and excitement across platforms like Reddit simmered.