Meme Stocks Crash: AMC Plunges After Investor Warning—Sparking $10 Billion Selloff

, it took about two weeks for AMC to bottom out at about 28% of its closing high on January 27. Recent weeks, however, have proved wild price swings sparked by emphatic social media sentiment are more than just a fad, says Nigel Green, the CEO of $12 billion wealth advisory DeVere Group."This kind of speculative day trading is becoming a global phenomenon," he said in an email.

:"Under the circumstances, we caution you against investing in [our stock], unless you are prepared to incur the risk of losing all or a substantial portion of your investment."Despite the Thursday crash, shares of AMC are still up more than 2,000% this year. That's nearly 20 times more than the best-performing stock in the S&P 500, Marathon Oil. Other meme stocks have similarly held on to their Reddit-fueled gains, with GameStop up 1,400& and BlackBerry 120%.

regulators would crack down with new rules targeted at online brokerages like Robinhood and eToro, which he said have"gamified" investing"to get people to trade more."

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