Shares of a number of meme stocks extended their pullbacks Wednesday, despite a big rally in the broader stock market, after they snapped long win streaks in the previous session. Bed Bath & Beyond Inc.'s stock (BBBY) fell 5.6% in morning trading, after dropping 14.2% on Tuesday. That decline Tuesday snapped a nine-day win streak, the longest win streak since January 2007, in which the stock skyrocketed 148.0%. Shares of AMC Entertainment Holdings Inc. (AMC) shed 4.2% on Tuesday, after falling 6.3% Tuesday to snap a six-day win streak (the longest since May 2021), and GameStop Corp. (GME) fell 3.3%, after dropping 7.1% Tuesday to snap a nine-day win streak (longest since March 2022). The pullbacks come while the S&P 500 shot up 1.6% and the Dow Jones Industrial Average jumped 478 points, or 1.5%, after upbeat inflation data.
(END) Dow Jones Newswires
August 10, 2022 10:30 ET (14:30 GMT)
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