AMC, GameStop short sellers make a comeback as meme stocks buckle
Shares of AMC Entertainment and GameStop dropped further in early trading on Tuesday, extending declines that have helped short sellers recover more than $1 billion in losses in December.Both companies were at the heart of the meme stocks phenomenon earlier this year, when individual investors coordinated on online message boards to fuel stunning rallies that cost short sellers billions of dollars.Theater chain AMC dropped 8% to a new 7-month low at $21.31 and were on track for a fourth day of l
Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?
What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin