Shares of GameStop Corp. gme
returned to a loss on Monday as they fell 6.4% during midday trading, with a sharp drop in trading volume suggesting investor interest in trading could wane. The stock opened 5.9% to $ 60.00 and then skyrocketed to climb a whopping 13.9% to an intraday high of $ 72.66 before falling back down. Trading volume was just 17.4 million shares a little after noon, compared to the daily average of about 53.2 million over the past 30 days. The drop in price and volume comes after the stock plunged 80.4% last week, the largest weekly drop in the stock’s public history. The total volume during last week’s decline was 302.04 million shares, compared to the volume of 559.24 million shares while the share was up 399.9% the week before. Meanwhile, the other stocks caught up in the trading frenzy surrounding heavily shorted companies, AMC Entertainment Holdings Inc. amc
12.3% on Monday afternoon, down from 48.5% last week. AMC stocks remained fairly active; with 95.6 million shares traded, they were the most active on the NYSE, even though volume for the past 30 days was less than half the daily average of about 208.1 million shares. The declines in GameStop and AMC stocks come one day when the S&P 500 spx
rose 0.4% towards a record distress.