Meme stocks tend to defy logic when it comes to reacting to broad market trends, but the 500-point drop at the open for the Dow Jones Industrial Average was apparently too much for AMC Entertainment Holdings (NYSE: AMC) , Genius Brands International (NASDAQ: GNUS) , Skillz (NYSE: SKLZ) , and Sundial Growers (NASDAQ: SNDL) , which were down 5.2% on average heading into midday trading Monday.
The market downdraft sucked down large swaths of the market on fears of a cooling economy, especially in China, as its largest property developer, Evergrande Group , careened toward default due to its indebtedness.
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For further details see:
Why These 4 Meme Stocks Were Falling Today