Camber Energy stock loses half its value on heavy volume, to extend the selloff from a 2-year high

Shares of Camber Energy Inc. CEI, -56.65% plunged 50.2% successful volatile trading Tuesday, arsenic they extended their selloff from a adjacent two-year high. The lipid and earthy state company's banal had rocketed 161.6% amid a six-day triumph streak -- the mean regular measurement was 523.3 cardinal shares -- to $3.82 connected Sept. 30, which was the highest closing terms since October 2019. Kudos to Tuttle Capital Management Chief Executive Matthew Tuttle, who said past week that the rally looked similar a "headfake," arsenic it appeared to beryllium a imaginable pump by immoderate Wall Street investors utilizing social-media measurement arsenic a tool, arsenic MarketWatch's Thornton McEnery. Since then, the banal has plummeted 59.7%. As of Tuesday afternoon, trading measurement was 227.5 cardinal shares, capable to marque Camber's banal the astir actively traded connected large U.S. exchanges. It has been halted 3 times for volatility successful the past fractional hour. The selloff comes arsenic archetypal meme stocks AMC Entertainment Holdings Inc. AMC, +1.02% roseate 2.4% and GameStop Corp. GME, -0.63% gained 0.1%, portion the S&P 500 SPX, +1.34% precocious 1.3%.