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.