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Why These Meme Stocks Are Tumbling When the Market Is Rising

TheMotleyFool

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Why These Meme Stocks Are Tumbling When the Market Is Rising

Meme stocks are tumbling Wednesday, with shares of AMC Entertainment Holdings (NYSE: AMC) tumbling 9.5%, GameStop (NYSE: GME) down 9%, and Express (NYSE: EXPR) plunging 12.5% in morning trading.

While there was no company-specific news for any of the stocks to cause the decline, AMC announced yesterday it was withdrawing its 25 million share stock offering after investors balked at being diluted, while GameStop announced it was opening a new warehouse facility in Reno to help with its transformation into an online-oriented video game retailer.

Image source: Getty Images.

Source Fool.com

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