To The Moon

GameStop drops 5% premarket after Wedbush cuts target price to $11 from $13.5. Faraday Future down 3%; AMC Entertainment fell 2%.

Shares for the movie theater company and for the video game retailer fell 21% and 27%, respectively, as of Wednesday afternoon following a revival of meme stock mania that had sent shares of both companies skyrocketing in recent days. Another meme stock, Blackberry, fell 9% on Wednesday. This is amid all-time highs for the market.The leader of the 2021 meme stock frenzy, day trader Keith Gill, known as Roaring Kitty on X and DeepF—ingValue on Reddit, returned to social media on Sunday after a multi-year hiatus. On Monday, Gill’s favorite trade, GameStop, started to climb and reached a peak of $64.83 on Tuesday, up from an intraday high of $20.20 on Friday.“Buy $AMC & $GME, these companies deemed “meme stocks” target the very worst market fraudsters the world has to offer,” one trader wrote on X.

The Tesla selloff turned into a bloodbath briefly Monday, leaving dazed bulls are searching for wher

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