Why GameStop Is Falling Today
Shares of GameStop (NYSE: GME) are tumbling 5% heading into midday trading Monday as the meme stock rally of last month gives way to a rout in late August.
Not only is the video game retailer's stock down, but Bed Bath & Beyond (NASDAQ: BBBY) continues to collapse after activist investor Ryan Cohen sold all of his holdings in the home goods retailer, and AMC Entertainment (NYSE: AMC) is plummeting nearly 40%, but that's because the movie theater owner's new preferred shares began trading today.
Going under the ticker symbol APE, after the nickname AMC investors have given themselves, but also standing for AMC Preferred Equity, those shares were up 8.6% at 11:57 a.m. ET.
Source Fool.com
