GameStop shares fall over 50%

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Citizen X

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GameStop shares fell sharply in a choppy Thursday session after brokers restricting trading on the stock appeared to put pressure on the retail trader favorite.

The stock was down 56% at 11:15 a.m. ET after being up over 25% earlier in a session marked by several trading halts. Shares were soaring at one point in premarket trading, topping $500 apiece briefly in premarket at one point. The stock started to fall as word spread that Robinhood and Interactive Brokers were restricting trading and opened trading solidly in the red.

The wild moves come after a more than 130% rally on Wednesday in heavy volume, pushing its week-to-date gains to 466%. The stock was worth about $40 just a week ago.

 

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