AMC, BlackBerry shares slump as meme stock rally fizzles
Cinema operator AMC was down about 9.7% in early deals after falling 18% on Thursday, while US-listed shares of BlackBerry fell 4.9 per cent after six straight sessions of gains
Reuters | June 4, 2021 | Updated 17:35 IST
Shares of other meme stocks GameStop and Koss Corp were down 2.1 per cent and 4.6 per cent, respectively
Shares of retail favorites AMC Entertainment and BlackBerry Ltd fell on Friday as a social media-driven rally in the so-called meme stocks appeared to fizzle at the end of a second straight week of stunning gains.
Cinema operator AMC was down about 9.7 per cent in early deals after falling 18 per cent on Thursday as it completed its second share offering in three days, taking advantage of a nearly 400 per cent surge in its share price since mid-May.