RICHMOND, Va. — Circuit City Stores Inc. shares plummeted in trading yesterday after Blockbuster Inc. withdrew its takeover bid, prompting investors to question the consumer electronics retailer's future.

Shares of the Richmond, Va.-based company fell 23 cents, or 9 percent, to close at $2.32 yesterday, after hitting a 17-year low of $2.10 earlier in the day.

The company, which has seen its shares fall 86 percent from its 52-week high of $15.33, says it will continue to review strategic alternatives, but said that doesn't require Blockbuster's presence.

Blockbuster on Tuesday night pulled its bid to buy Circuit City, citing market conditions. The Dallas-based movie-rental chain had proposed a more than $1 billion deal in April with a plan to create a 9,300-store chain to sell electronic gadgets and rent movies and games. Blockbuster shares rose 14 cents, or 5.6 percent, to close at $2.65.

Circuit City continues to defend its multiyear turnaround plan despite some missteps, and has asked shareholders for the time necessary to leverage the company's future.

"If you look at our largest competitor (Best Buy Co. Inc.), this is still a healthy business," CEO Philip J. Schoonover said after its annual shareholder meeting late last month. "The market is within our control if we get the time."

Despite its confidence in the efforts, Circuit City's board will look for any option that would enhance value or possibly speed up the turnaround process, spokesman Bill Cimino said.