(Bloomberg)
GameStop Corp. shares tumbled for a third day in four as retail traders flocked to other corners of the stock market such as small drug developers.
The video-game retailer extended losses to 33% and touched this week’s low of $62.05 at 11:32 a.m. in New York. Trading volume picked up after a slow start, with 25 million shares exchanged in the first two hours of trading, but still a below the average for the stock over the past two weeks.
Meanwhile, demand was lower for companies such as headphone maker Koss Corp. and apparel retailer Express Inc., which had also skyrocketed over recent weeks.
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New data on early-stage trials of
Johnson & Johnson’s Covid-19 vaccine are giving experts increased confidence that the vaccine will work as they await results of a large Phase 3 trial expected in the coming weeks.
The trial data, published Wednesday by the New England Journal of Medicine, offered an expanded and updated account of a paper posted weeks ago on a so-called preprint server. The paper showed that 90% or more of participants developed neutralizing antibodies against the virus that causes Covid-19 within 29 days after injection with the Johnson & Johnson vaccine, and that the neutralizing antibodies remained 71 days after injection.
Shares of Johnson & Johnson were up 1.8% in premarket trading on Thursday.