(Reuters) – Shares of videogame retailer GameStop Corp (NYSE:) and movie theater operator AMC Entertainment (NYSE:) Holdings Inc lost 15% and 13.2%, respectively, in early U.S. pre-market trading on Wednesday as a social media-driven trading frenzy cooled.
GameStop shares had more than halved in value to $90 each on Tuesday following a rally that drove them up as high as $483 last week.
The wild gyrations in stock prices of companies including GameStop and AMC have drawn the attention of financial regulators.
U.S. Treasury Secretary Janet Yellen is calling a meeting of top officials, including from the Securities and Exchange Commission and the Federal Reserve, this week to discuss market volatility.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment