Why GameStop Stock Dropped More Than 10% This Morning

Shares of GameStop (NYSE: GME) -- the original meme stock -- dropped more than 12% in early trading Monday before recovering to about a 10% loss around 11:15 a.m. EDT.

Don't blame Robinhood or Reddit or short-traders for this one, though. Blame Ascendiant Capital Markets, which downgraded GameStop stock to sell today.

Image source: Getty Images.

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Source Fool.com