Why Meme Stocks AMC Entertainment, SmileDirectClub, and Sundial Growers Fell Today
Shares of meme stocks AMC Entertainment Holdings (NYSE: AMC), SmileDirectClub (NASDAQ: SDC), and Sundial Growers (NASDAQ: SNDL) were declining today, down 9.5%, 3.6%, and 1.9%, respectively, as of 3:40 p.m. ET.
There wasn't any news regarding these meme stocks in particular today; however, potential bad news at another meme stock appeared to cause a sell-off in other favorites of the WallStreetBets crowd.
Fellow meme stock Bed Bath & Beyond (NASDAQ: BBBY) had plunged about 23% as of 3:40 p.m. ET, following a filing last night by major shareholder Ryan Cohen. Cohen filed a form 144 revealing his intention to sell 8 million shares of stock and another 1.45 million shares through the sale of call options purchased earlier this year.
Source Fool.com
