(Reuters) – Shares of GameStop Corp slipped further in early trading on Tuesday, continuing with a slump that has left the video game retailer’s share down a third of its value so far this week.
The company’s shares fell 16.4% to $ 184, on track for their poor weekly performance since early February, with a drop of more than 30% since closing Friday.
Other so-called meme stocks, which are popular with online retailers, declined early in Tuesday’s session, with AMC Entertainment Holdings Inc, a cinema company, down 8.6% while headphone maker Koss Corp fell 7.1% .
GameStop still retains a legion of dedicated followers after a social media frenzy caused a massive surge in January in which its shares rose more than 1,600%, in a brief push that shook hedge funds like Melvin Capital.
Reporting by Aaron Saldanha in Bengaluru; Edited by Shounak Dasgupta