Meme stocks are on the move Thursday as traders on Reddit and other forms of social media take to discussing why shares of their favorite investments are falling today.
Meme stocks have been a hot trend for a while now with many of them seeing major rallies. However, lately, those same shares are starting to see massive declines. This isn’t uncommon as rallies for the stocks end and they start to fall back to lower trading levels. At least until the next pump happens.
Let’s dive into some of the top meme stocks today to see what’s happening with them.
Meme Stocks Movement
- AMC Entertainment (NYSE:AMC) stock is down 7.6% with some 29 million shares having changed hands. The company’s daily average trading volume is 157.9 million shares.
- GameStop (NYSE:GME) shares are dipping 1.7% on Thursday morning as about 737,000 shares trade. Its company’s daily average trading volume is 7.5 million shares.
- ContextLogic (NASDAQ:WISH) stock is slightly lower today with roughly 15 million shares on the move. For comparison, the company’s daily average trading volume is 15.8 million shares.
- Palantir Technologies (NYSE:PLTR) is seeing shares drop less than 1% today with about 9 million shares changing hands. That’s below the company’s daily average trading volume of 57.7 million shares.
- Newegg (NASDAQ:NEGG) shares are falling 27.7% with some 4 million traded as of this writing. This is already above the company’s daily average trading volume of 2.3 million shares.
Of course, we have plenty of other market news worth diving into today than just what’s happening with meme stocks.
Luckily, InvestorPlace has it all ready to go with out daily coverage of the market. A few stories to consider looking in on today include Circle and Concord Acquisition (NYSE:CND) enterting a SPAC merger, Carver Bancorp (NASDAQ:CARV) being a short-squeeze target, and the pre-market stock movers for today. You can find all of that at the links below!
More Thursday Stock Market News
- Dear Crypto Fans, Watch CND Stock and the New Circle SPAC Merger
- CARV Stock: Why Retail Investors Are Betting Big on a Squeeze for Carver Bancorp
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.