Shares of meme traders’ stock favorites, including AMC Entertainment Holdings and Bed Bath & Beyond, cratered during Monday’s trading session.
The struggling theater chain plummeted as much as 38 percent, to around $11 a share, while the retailer fell nearly 12 percent, to under $10.
These stocks had enjoyed significant gains until late last week. Bed Bath & Beyond had soared more than 280 percent since July before the intense selloff. AMC shares had climbed about 78 percent since the end of July prior to the collapse.
Why are these equities reversing their good fortune as of late?
Cineworld Rival Tanks AMC?
AMC rival, Cineworld Group PLC, confirmed that it is considering filing for Chapter 11 bankruptcy protection in the United States….