Business Standard

US: AMC, Bed Bath & Beyond lead rout in meme stocks as mania fizzles

AMC Entertainment Holdings Inc. plunged 38% in premarket trading ahead of its debut of a new class of shares and after peer Cineworld Group Plc confirmed it may go bankrupt.

Photo: Bloomberg
Premium

Photo: Bloomberg

Bailey Lipschultz and Subrat Patnaik | Bloomberg
The unraveling of the latest meme stock frenzy is accelerating as bad news for some of the most popular retail-trader favorites pile up and investors broadly dump riskier assets. 
 
AMC Entertainment Holdings Inc. plunged 38% in premarket trading ahead of its debut of a new class of shares and after peer Cineworld Group Plc confirmed it may go bankrupt. Bed Bath & Beyond Inc. tumbled 14%, on pace to add to a 52% two-day slide, after a report some suppliers were restricting or halting shipments altogether after the company fell behind on payments.

The movie-theater chain’s new preferred stock is set

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 22 2022 | 7:42 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com