Why These 4 Meme Stocks Were Falling Today
Meme stocks tend to defy logic when it comes to reacting to broad market trends, but the 500-point drop at the open for the Dow Jones Industrial Average was apparently too much for AMC Entertainment Holdings (NYSE: AMC), Genius Brands International (NASDAQ: GNUS), Skillz (NYSE: SKLZ), and Sundial Growers (NASDAQ: SNDL), which were down 5.2% on average heading into midday trading Monday.
The market downdraft sucked down large swaths of the market on fears of a cooling economy, especially in China, as its largest property developer, Evergrande Group, careened toward default due to its indebtedness.
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Source Fool.com
