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(Reuters) - GameStop Corp shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now.
The videogame retailer’s shares, whose wild gyrations have made or lost billions of dollars for hedge funds and other investors in recent weeks, closed down 60% at $90. They are now worth less than a fifth of their high of $483 last week.
Posters on the popular Reddit forum WallStreetBets, which was instrumental in fueling the rally, bemoaned the fall. Our darkest hour, read one post here by user name kigfik who said they were still holding the stock. Another user, Cinther, posted that they bought at $390 and lost so much that I don t even care anymore but were still holding.
02 Feb 2021 / 19:42 H.
(Adds trader comments, details on U.S. pre-market movement) GME down 30% in Frankfurt, down 23% in U.S. pre-market Silver falls 8% from Monday s eight-year high Robinhood raises $3.4 bln from investors in a week
By Tom Westbrook and Thyagaraju Adinarayan
Feb 2 (Reuters) - GameStop shares sank on Tuesday and a silver buying spree led by small investors subsided as a Reddit-driven trading frenzy that has shocked global financial markets over the past week started to show signs of fizzling out.
The videogame chain s U.S.-listed shares, which have see-sawed in a dramatic week that has seen billions of dollars gained and lost by financial firms, were down 23% in early pre-market trading after closing down 31% on Monday.
Publishing date: Jan 28, 2021 • January 28, 2021 • 1 minute read •
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British shares hit a near one-month low on Thursday as energy stocks tracked commodity prices lower following virus and lockdowns-led demand worries, while the vaccine row between the European Union and AstraZeneca Plc continued to weigh.
AstraZeneca was one of the top drags to the FTSE 100 index as Britain demanded it must receive all of the COVID-19 vaccines it had ordered and paid for after the European Union asked the drugmaker on Wednesday if it could divert supplies of the Oxford-developed shots from Britain.
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(Jan 28): The FTSE 100 hit a near one-month low on Thursday as energy stocks tracked commodity prices lower following virus and lockdown-led demand worries, while the vaccine row between the European Union and AstraZeneca Plc continued to weigh.
AstraZeneca was the second biggest drag on the FTSE 100 index as Britain demanded it must receive all the Covid-19 vaccines it had ordered, while the EU warned drug companies that it would use all legal means or even block exports unless they agreed to deliver shots as promised.
The blue-chip FTSE 100 index fell 0.6% with insurer Prudential being the top drag after it said it would separate its US business Jackson through a demerger and may raise $2.5 billion to $3 billion in new equity.
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