Name: GameStop and AMC plunge by more than 50% as Reddit short squeeze begins to fade
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GameStop and AMC plunge by more than 50% as Reddit short squeeze begins to fade

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Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Matthew FoxRedeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.The fueled by traders on Reddit's Wall Street Bets forum are unwinding, based on Tuesday's trading activity. fell by as much as 67% on Tuesday, adding to a 31% decline on Monday. The stock was down 85% from its all-time high of $483.GameStop had surged by more than 2,000% in January, leading to massive losses for some hedge funds , which was down 53% for the month.The activity spread to another stock favored by the Reddit traders, . The movie-theater chain had fallen by 55% at intraday lows on Tuesday and was down 71% from its recent high of $20.36.The trading activity suggests that Reddit users are failing to "hold the line," the battle cry of Wall Street Bets.But as of Monday, one Reddit user was still holding the line: u/DeepFuckingValue. The user, , posted a screenshot of his trading position after the close signaling that he had not sold his outstanding positions in the video-game retailer.Despite Monday's decline, the user, who also goes by the name RoaringKitty, was still up nearly 3,000% on his GameStop position, which is made up of both common stock and call options.The top comment on RoaringKitty's post on Monday was "HOLDDDDD."Read more:An icon in the shape of a lightning bolt.Keep readingIt indicates an expandable section or menu, or sometimes previous / next navigation options.Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Matthew FoxRedeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.The fueled by traders on Reddit's Wall Street Bets forum are unwinding, based on Tuesday's trading activity. fell by as much as 67% on Tuesday, adding to a 31% decline on Monday. The stock was down 85% from its all-time high of $483.GameStop had surged by more than 2,000% in January, leading to massive losses for some hedge funds , which was down 53% for the...

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Matthew Fox

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GameStop and AMC plunge by more than 50% as Reddit short squeeze begins to fade

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