One thing falling as aggressively as the snowflakes hitting the East Coast right now is the GameStop stock price. It has fallen another 51% on Tuesday, bringing it to $110 per share.
On Monday, the stock plunged over 35%. So here’s the ath. On Friday the stock was at $325, since then it’s gone down about 66%.
Robinhood has allowed their customers to buy up to 100 shares now as they’ve lifted some of the restrictions they took heat for and are still under fire for, but that hasn’t stopped the stock from moving south at a fast pace.
The pain has alleviated, a little bit, for some of the hedge funds that had shorted GameStop and got crushed for it. Their collective losses are sitting at $13.4 billion for the year, as opposed to the nearly $20 billion disaster they were faced with late last week.