GameStop stock falls below $50, erases $30 bn in market value

US video game retailer GameStop's stock declined 22% to fall below the $50 level for the first time on Tuesday since January 21. The retailer has now wiped out about 90% of its market value, amounting to $30 billion, from its peak in January when it touched $483. It had then briefly become the largest company in Russell 2000 Index.