The stock was last down 19% at $4.18 on volume of 1.7 million shares, compared with the full-day average over the past 30 days of 3.7 million shares.
The shares had been down as much as 21% at the intraday low of $4.04, the lowest price seen since March 2007.
Gemstar shareholders are convening on Tuesday to vote on the proposed acquisition by Macrovision. Ahead of the Dec. 7, Macrovision said it agreed to buy Gemstar in a cash and stock deal valued at $2.8 billion, or $6.35 a share.
Macrovision shares were last up 4.2% at a 2-month high of $15.72. The stock is still down 40% since the Dec.
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