Gamestop Tumbles 9%

(RTTNews) - Texas-based specialty retailer of computer games, GameStop Corp. (GME), has dropped 9% in the early trading session in the opening day of this week's market. The company has not released any stock-specific news to hurt the movement of the stock. However, the US stock market opened lower on high inflation and fear of rate hike by the apex bank.

Since announcing its first quarter results earlier this month, the stock enjoyed a uptick that saw the shares rise to the third week of May. But since then, the stock has rectified. In the past 6 months, the shares of the company have dropped almost 25% in the market.

The stock is currently trading at $118.36, down $10.73 or 8.31% since the previous close at $129.09. The stock opened at $120.51 in the morning. In the 52-week period, the stock has ranged between $77.58 aqnd $255.69 per share.