Meme stocks on brink of bear market as retail frenzy fades

The group of 37 so-called meme stocks tracked by Bloomberg fell 2.6% on Thursday, extending its retreat from a June 8 high to just shy of 20%. The basket bounced off its 50-day moving average, a level it hasnt closed below since late May when a massive surge in AMC Entertainment Holdings Inc. captivated investors.

via Economictimes

No comments