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GameStop, AMC tumble as retail trading mania cools

US Materials 3 February 2021 13:28 (UTC +04:00)
Shares of videogame retailer GameStop Corp and movie theater operator AMC Entertainment Holdings Inc lost 15% and 13.2%
GameStop, AMC tumble as retail trading mania cools

Shares of videogame retailer GameStop Corp and movie theater operator AMC Entertainment 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, Trend reports with reference to Reuters.

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.

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