Meme Stocks Crash: AMC Plunges After Investor Warning—Sparking $10 Billion Selloff
Following a nearly unabated weeks-long run-up, shares of AMC Entertainment plummeted Thursday morning alongside a slew of other recently resurgent meme stocks after the company cautioned investors that its stock has become massively overvalued, echoing experts who’ve been warning of an impending correction.
AMC plummeted as much as 35% Thursday, while GameStop tanked 13%.
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Key Facts
As of 11:30 a.m. EDT, AMC stock had cratered 32% Thursday, wiping out about…
