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GameStop, AMC, Silver Stocks Continue To Plunge Pre-Market

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GameStop, AMC, Silver Stocks Continue To Plunge Pre-Market

The shares of GameStop Corp. (NYSE: GME) and others benefiting from the short squeeze this month continue to dip in the pre-market session on Tuesday following the massive plunge on Monday.

GameStop shares traded 24.3% lower at $170.21 at press time, as the purchase of the stock on Robinhood and several other trading platforms remains restricted. AMC Entertainment Holdings Inc. (NYSE: AMC) shares traded 16% lower at $11.18.

BlackBerry Ltd (NYSE: BB) was down 9.9% at $13.18 at press time. Nokia Oyj (NYSE: NOK) traded 1.2% lower at $4.83.

Silver stocks have been seeing momentum amid calls for short squeeze on WallStreetBets and other social media communities.

The WallStreetBets members who primarily drove the GameStop rally are warning against investing in silver, saying such a move benefits the same hedge funds the community is fighting against.

iShares Silver Trust (NYSE: SLV) traded 3.7% lower at $25.77 and First Majestic Silver Corp. (NYSE: AG) traded 12.75% lower at $19.30 at press time.

The number of GameStop shares being shorted reduced to 27.13 million this week, down more than 50% over the previous week, as per S3 Partners.

 

Related Articles (AG + AMC)

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