GameStop Corp. plummeted on Thursday, wiping out a chunk of a rally posted over a dizzying six-day period, after moves by brokerages to curb trading of the stock on their apps whipped up volatility and enraged the company’s retail fanbase.

The stock plunged as much as 68% Thursday after Robinhood Markets, Interactive Brokers Group Inc. and others took steps to curtail activity in several high-flying stocks, including GameStop and AMC Entertainment Holdings Inc.

Shares of the video-game retailer were down 30% to US$245 as of 1:45 p.m. in New York after at least 18 volatility halts. Volume also fell, with about 43 million shares traded by Thursday afternoon, a far cry from Friday’s record of 197 million.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook