GameStop, AMC In Battle For Top Loser Among Meme Stocks
By Dhirendra Tripathi
Investing.com – Meme stocks were trading sharply lower in Tuesday’s season, and vying for the top loser position were AMC (NYSE: AMC ) and GameStop (NYSE: GME ), each down 9%.
Headphone maker Koss (NASDAQ: KOSS ) shed around 8%.
It was a sharp reversal for AMC, a day after it gained 25% on the announcement of the reopening of its theatres in Los Angeles on Monday and others in California Friday onwards.
Meme stocks have a devoted following that acquired cult status in January when some Reddit followers decided to take on the big hedge funds. That unexpected coming together resulted in a short squeeze and created trouble for the institutional traders.
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