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AMC, BlackBerry shares slump as 'meme stock' rally fizzles


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. ....

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The Dogecoin Joke Is Turning Serious in Latest Crypto Binge


The Dogecoin Joke Is Turning Serious in Latest Crypto Binge
Justina Lee and Joanna Ossinger, Bloomberg News
Dogecoin and Bitcoin, are displayed on January 29, 2021 in Katwijk, Netherlands. Photographer: Yuriko Nakao/Getty Images
, Photographer: Yuriko Nakao/Getty Images
(Bloomberg)
For anyone who still thinks Dogecoin is a joke, there are 90 billion reasons that say it’s not.
That’s how much the digital token is now worth in dollar terms after another 40% gain in the 24 hours through Wednesday. Useless or not, the coin has been swept up in the crypto mania that’s gripped markets awash in central bank largesse. It’s the latest milestone in a year of speculative excesses for a market Nouriel Roubini once described as “the mother of all bubbles.” ....

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