GameStop, other Reddit-favored stocks plunge as trading frenzy fizzles

FILE PHOTO: Bars of silver are placed on wooden pallets at the KGHM copper and precious metals smelter processing plant in Glogow May 10, 2013. REUTERS/Peter Andrews/File Photo

(Reuters) - GameStop Corp shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now.

The videogame retailer's shares, whose wild gyrations have made or lost billions of dollars for hedge funds and other investors in recent weeks, closed down 60% at $90. They are now worth less than a fifth of their high of $483 last week.