GRAPEVINE (CBSNEWS.COM) — GameStop’s stock price cratered on Tuesday, falling 60% to $90 a share. The drop signaled that the popular WallStreetBets Reddit stock market discussion board — a major force behind last week’s spectacular rally in the troubled video game retailer’s shares and others’— may be losing its magic to move the market.

Vehicles seen parked in front of the GameStop store at the SilverMoon Plaza.
An online group sent share prices of GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) soaring in an attempt to squeeze short sellers. (Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images)

Grapevine-based GameStop’s tumble followed a large reduction in short interest on the stock, which measures how many of the company’s shares have been borrowed to sell.

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CBSDFW.com Staff