© Reuters. FILE PHOTO: A GameStop store is pictured in New York
(Reuters) – Shares of videogame retailer GameStop Corp (NYSE:) and movie theater operator AMC Entertainment (NYSE:) Holdings Inc lost 15% and 13.2%, respectively, in early U.S. pre-market trading on Wednesday as a social media-driven trading frenzy cooled.
GameStop shares had more than halved in value to $90 each on Tuesday following a rally that drove them up as high as $483 last week.
The wild gyrations in stock prices of companies including GameStop and AMC have drawn the attention of financial regulators.
U.S. Treasury Secretary Janet Yellen is calling a meeting of top officials, including from the Securities and Exchange Commission and the Federal Reserve, this week to discuss market volatility.
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