The stock market moved lower on Friday, although most indexes managed to come off their lows from earlier in the session. Investors seem to be taking a pause after a sharp rally that has led some to declare the end of the bear market that started in 2022.

The current AI stock craze has been a leading contributor to the broader market's strong performance in 2023. Yet former popular investment trends haven't always panned out very well. Indeed, today's drops in Virgin Galactic Holdings (NYSE: SPCE) and Canopy Growth (NASDAQ: CGC) show how many investors in special purpose acquisition companies (SPACs) and marijuana stocks didn't get the huge returns they'd hoped to achieve.

Shares of Virgin Galactic Holdings were down 16% in early-afternoon trading on Friday. The former special purpose acquisition company and space tourism specialist gave back recent gains as it announced plans to raise substantial amounts of capital to fund its growth.

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Source Fool.com