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GameStop Corp. experienced a temporary trading suspension on Wednesday due to high volatility, as its shares plummeted by 25% shortly after the market opened.
The trading halt was a response to rapid fluctuations in the company’s stock price, aimed at stabilizing the market.
GME shares continue to decline
Trading resumed briefly following the initial suspension, but GameStop’s stock continued to fall, dropping by 29.48% to $34.41 at 9:54 am ET.
This steep decline prompted a second halt in trading as the volatility persisted.
GME’s big gains in the past few days
The sharp drop in GameStop’s share price followed significant gains earlier in the week. On Monday and Tuesday, the company’s shares surged by more than 100%, driven by a combination of investor speculation and market dynamics.
The extreme volatility in GameStop’s stock highlights the unpredictable nature of the market, particularly for stocks with a history of rapid and dramatic price movements.
Investors will be closely watching how the situation unfolds and the company’s next steps in response to the market’s behaviour.
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