Meme stocks hit a wall on Thursday with GameStop, AMC and Clover down big

cnbc2021-06-11

The meme stock mania created by the day trading Reddit crowd fizzled a bit on Thursday. It's easy come, easy go for many speculative names favored by retail investors includingAMC ...

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Comments

ChrisAng
2021-06-18
ChrisAng
Ouch
J___T
2021-06-17
J___T
K
martzh
2021-06-15
martzh
Apes together stronk
Rinoonyx
2021-06-15
Rinoonyx
Nani
replaygoh
2021-06-14
replaygoh
chop chop and chop
MFME
2021-06-14
MFME
Well what goes up must come down n vice versa

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The video game retailer shed 27.2% even after announcing two high-profile executive hires from Amazon. The movie theater chain dropped 13.2% on Thursday, turning negative on the week.\nAnother red-hot meme stockClover Health, which at one point was the focus of the WallStreetBets message board this week, pulled back 15.3% on Thursday.Clean Energy Fuels, which rallied more than 31% just Wednesday, tumbled 15.6%.\nMEME STOCKS TAKING A HIT\n\n\n\nTICKER\nCOMPANY\nPRICE\nCHANGE\n%CHANGE\n\n\n\n\nGME\nGameStop Corp\n220.39\n-82.17\n-27.1582\n\n\nAMC\nAMC Entertainment Holdings Inc\n42.81\n-6.53\n-13.2347\n\n\nCLNE\nClean Energy Fuels Corp\n10.99\n-2.03\n-15.5914\n\n\nCLOV\nClover Health Investments Corp\n14.34\n-2.58\n-15.2482\n\n\n\nIf the January trading mania is any guide, it's not surprising that these latest rallies are turning out to be short-lived. A CNBC PRO analysis found that on average, Reddit stocks' runs lasted nine trading days from the start to their first big drop during the initial frenzy at the beginning of 2021.\nCNBC identified the starting point for five stocks popular on message boards earlier this year — GameStop, AMC,Bed Bath & Beyond,BlackBerryandKoss— by finding the first time each stocks' single-day trading volume at least doubled its 30-day moving average of shares traded. That typically represents the point at which a flurry of new investors took interest in a stock that was not being heavily traded.\nOn Thursday, GameStop investors seemed to be running for the exits afterthe company said it appointed former Amazon executive Matt Furlong as its new CEO.It also picked another Amazon veteran, Mike Recupero, as chief financial officer. Meanwhile the company's fiscal first-quarter resultsshowed sales up 25% and a narrower loss than it reported a year ago.\nThe decline in stock came as GameStop also said it may sell as many as 5 million shares. Additional shares dilute the value of existing shareholders' stakes. The stock is still up more than 1,000% on the year, however.\nAMC is down for a second straight day after soaring 83% last week. The movie theater chain, which was on the brink of bankruptcy not long ago, managed to sell 20 million shares in two separate deals last week amid the rally,generating around $800 million in capital.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":168347133,"gmtCreate":1623954996422,"gmtModify":1703824625985,"author":{"id":"3560411692170753","authorId":"3560411692170753","name":"ChrisAng","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ouch","listText":"Ouch","text":"Ouch","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/168347133","repostId":1194129273,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":161648196,"gmtCreate":1623925173115,"gmtModify":1703823641084,"author":{"id":"3581947032682882","authorId":"3581947032682882","name":"J___T","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/161648196","repostId":1194129273,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":187204369,"gmtCreate":1623754319851,"gmtModify":1704210591515,"author":{"id":"3569570628856693","authorId":"3569570628856693","name":"martzh","avatar":"https://static.tigerbbs.com/323c1eca5facea137889894915ff00d3","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Apes together stronk","listText":"Apes together stronk","text":"Apes together stronk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187204369","repostId":1194129273,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":187158923,"gmtCreate":1623747566362,"gmtModify":1704210270535,"author":{"id":"3572143864759030","authorId":"3572143864759030","name":"Rinoonyx","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Nani","listText":"Nani","text":"Nani","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187158923","repostId":1194129273,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":185232361,"gmtCreate":1623651524353,"gmtModify":1704207859316,"author":{"id":"3582963095283492","authorId":"3582963095283492","name":"replaygoh","avatar":"https://static.tigerbbs.com/d47b21291424a3d55039334a8de5cdb9","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"chop chop and chop","listText":"chop chop and chop","text":"chop chop and chop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185232361","repostId":1194129273,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":185814481,"gmtCreate":1623640897843,"gmtModify":1704207606546,"author":{"id":"3574399983193226","authorId":"3574399983193226","name":"MFME","avatar":"https://static.tigerbbs.com/9c7d2325aa9eb91869c4c7144270a75a","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":7,"crmLevelSwitch":1},"htmlText":"Well what goes up must come down n vice versa","listText":"Well what goes up must come down n vice versa","text":"Well what goes up must come down n vice versa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185814481","repostId":1194129273,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":190,"commentSize":119,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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