GameStop share price breaks below $100 as rout erases $28 billion

GameStop Corp.’s rally came to a screeching halt this week as its share price dropped below the $100 milestone level.

The stock tumbled to $75 at 10:49 am in New York, meaning it has now given up nearly 85% of the spectacular gains that were fueled by last month’s attack on short sellers. The video-game retailer’s market value has dwindled by more than $28 billion to $5.8 billion from a Thursday intraday peak, though the stock is still up more than 300% year-to-date.