GameStop Extends Drop, Erases $30 Billion in Value From Peak
- Shares fell 16% to $50.31, the lowest level since Jan. 21
- Company has now shed 90% of its value from intraday high
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GameStop Corp.’s decline accelerated on Tuesday, bringing the company closer to erasing all its gains from last month.
Shares of the video-game retailer fell 16% to close at $50.31 in New York, their lowest level since Jan. 21, wiping out $30.2 billion in value from its January peak. The stock fell below $50 during intraday trading. Its slump came as trading volume continued to dry up with about 26 million shares changing hands, less than half of what’s been seen in the past month.