(Reuters) – Shares of GameStop Corp were further down early in trading on Tuesday, continuing a fall that has seen video game retailer shares fall a third in value so far this week.
Shares of the company fell 16.4 percent to $ 184, well on track for its worst weekly performance since early February, down more than 30 percent since Friday’s close.
Other stocks called memes, popular with online retailers, declined early Tuesday’s session, with movie operator AMC Entertainment Holdings Inc. down 8.6%, while headset maker Koss Corp fell 7.1%.
GameStop continues to retain a legion of loyal followers after the social media frenzy in January sparked a massive rally in which its shares rose more than 1,600%, in a short spell that shook hedge funds like Melvin Capital.
Report by Aaron Saldanha in Bengaluru; Edited by Shounak Dasgupta