GameStop shares doubled in heavy volume in the final 90 minutes of trading on Wednesday, in a return of the volatility that rocked markets last month and led to a congressional inquiry.
Trading in the video game retailer’s shares, which have been a favourite of day traders communicating on social media platforms like Reddit and Twitter, had to be halted twice, as stock exchanges’ automatic stabilisers kicked in.
In January, a short-squeeze in GameStop shares inflicted severe losses on hedge funds betting against the company, and some posts on Reddit exalted in the sudden resurgence of the stock after weeks of declines.
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