GameStop shares slide as meme stock fervor fades
CBSN
Investor appetite for "meme stocks" may already be waning.
The shares of GameStop, AMC Entertainment, BlackBerry and other companies embraced by retail traders dipped on Wednesday morning before financial markets opened in the U.S. The stocks had surged the previous day after Keith Gill, known online by his handle "Roaring Kitty," resurfaced on X (formerly Twitter) after a three-year hiatus.
Meme stocks are companies whose shares are lifted by social media buzz rather than traditional financial fundamentals such as growth and profits.
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