Shares of GameStop Corp. GME,
fell back on a loss on Monday as they lowered afternoon trading by 6.4%, with a sharp drop in trading volume indicating that investors’ interest in the trade could decline. The stock opened at 5.9% at $ 60.00 and then rose to 13.9% to an intraday high of $ 72.66 before falling. The trading volume was just 17.4 million shares slightly after lunch, compared to the average day of around 53.2 million over the past 30 days. The drop in price and volume comes after the stock fell 80.4% last week, the biggest weekly drop in the stock’s public history. The total volume during the decline last week was 302.04 million shares, compared to the volume of 559.24 million shares, as the share rose by 399.9% the previous week. Meanwhile, the other share caught up in the trading frenzy surrounding companies with large short-circuits, AMC Entertainment Holdings Inc. AMC,
tumbled 12.3% yesterday afternoon, after falling 48.5% last week. AMC shares remained fairly active; With 95.6 million shares traded, they were the most active on the NYSE, even though the volume was less than half the full-day average over the past 30 days of about 208.1 million shares. The declines in GameStop and AMC shares come on a day when the S&P 500 SPX,
rose 0.4% to a record close.
