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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Meme Stocks Gyrate After AMC Files to Sell More SharesThe influence of online traders on the stock market showed no sign of abating with shares of AMC, BlackBerry and other “meme stocks” experiencing steep swings ahead of the opening bell Thursday Weren't these shares sold back in April with the public filing taking place now? This is FUD. The shares were sold in late April. THESE IS A BOLD FACE LIE, the shares were filed in April. Stop trying to create FUD to slow the stock price you damn schills!!
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