Game stopped: GME shares slide more than 40% early Tuesday

GameStop shares were down roughly 40% on Tuesday after slipping more than 100 points on Monday, leading some to suspect that last week’s short squeeze is on its way out.

After closing at a high of roughly $347 on Wednesday, GameStop opened Tuesday at just over $150. Until Tuesday, retail traders using the online brokerage firm Robinhood, now one of the most downloaded apps on the Apple App Store and popular among the Reddit traders who initially shot GameStop’s shares up last week, could only purchase four shares of GameStop at a time, though they could sell as many shares as they wanted.