(This story is for CNBC Pro subscribers solely.)

New York College finance professor Aswath Damodaran advised CNBC on Wednesday he believes GameStop has extra room to fall earlier than it reaches what he considers a good valuation.

The video-game retailer’s inventory was trading at nearly $108 Wednesday, up shut to twenty%. That follows two sessions of steep declines earlier this week because the retail-trading frenzy within the inventory unwinds.

GameStop shares — which rallied 400% last week, at one level reaching an all-time excessive of $483 apiece — had surged in response to a brief squeeze sparked by on-line merchants speeding into the closely bet-against identify.

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