GameStop shares drop 20%, briefly halted following 400% short-squeeze spike last week

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GameStop shares fell as much as 34% and were briefly halted on Monday as the Reddit-fueled frenetic trading extended into February.Shares of the bricks-and-mortar video game retailer last traded down 20% on Monday. GameStop jumped as much as 18% to $384.89 in premarket trading.The stock surged 1,625% in January as point-and-click investors piled into the name while hedge funds rushed to cover their losses from shorting the stock.The astronomical rally has inflicted a mark-to-market loss of almost $20 billion to hedge funds with short positions against the stock, according to data from S3 Partners. However, many short sellers are holding onto their bearish …

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