Meme stocks are tumbling Wednesday, with shares of AMC Entertainment Holdings (NYSE: AMC) tumbling 9.5%, GameStop (NYSE: GME) down 9%, and Express (NYSE: EXPR) plunging 12.5% in morning trading.
While there was no company-specific news for any of the stocks to cause the decline, AMC announced yesterday it was withdrawing its 25 million share stock offering after investors balked at being diluted , while GameStop announced it was opening a new warehouse facility in Reno to help with its transformation into an online-oriented video game retailer.
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For further details see:
Why These Meme Stocks Are Tumbling When the Market Is Rising