GameStop Corp. shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now.
The videogame retailer¡¯s shares, whose wild gyrations have made or lost billions of dollars for hedge funds and other investors in recent weeks, closed down 60% at $90. They are now worth less than a fifth of their high of $483 last week.
Posters on the popular Reddit forum WallStreetBets, which was instrumental in fueling the rally, bemoaned the fall. ¡°Our darkest hour,¡± read one post by user name kigfik who said they were still holding the stock. Another user, Cinther, posted that they bought at $390 and ¡°lost so much that I don¡¯t even care anymore¡± but were still holding.
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