Meme stocks AMC and GameStop tumble to lowest levels in months as investors take off risk

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Speculative trades including GameStop and AMC Entertainment were hit hard Monday, as investors dumped risky meme names after a head-turning year.

Still, Monday's sell-off doesn't make a huge dent in the meme stocks' meteoric rallies this year. AMC shares are still up more than 970% on the year, and GameStop has a rally over 630% in 2021 under its belt.

The rally has pushed GameStop to the Russell 1000 Index of large-cap stocks from the small-cap Russell 2000.Earlier this year, a band of retail traders coordinated trades on social media and managed to create huge squeezes in a slew of heavily shorted stocks. The short interest in these names have come down drastically after the jaw-dropping episode.

 

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buying every dip. not leaving

Nah. There’s a huge amount of in the money puts creating this price on $GME. It’s essentially gaslighting. Kinda like what you guys do come to think of it. Also, $GME was never a meme stock.

Can this headline be true with a 90% buy ratio?

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