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AMC’s was last trading 1.3% higher after falling as much as 10% at the open. It declined 15% on Monday together with other retail favorites such as Bed Bath & Beyond Inc (NASDAQ:BBBY). and GameStop Corp (NYSE:GME). GameStop and AMC were some of the earliest names chased by amateur retail earlier this year, giving them multifold gains in a short span of time and kicking off the famous meme-stock rally. Gamestop rose 4% on Tuesday, while Bed Bath and Beyond slid 0.3%.
Risky assets and high-flying tech companies have been under pressure recently as the Federal Reserve is seen rolling back some of its pandemic-era stimulus.
Tesla (NASDAQ:TSLA) Inc., another retail favorite, fell as much as 3.7% taking its overall losses from November 4 peak to $288 billion.
The trend has bigger implications as these investors make up 20% to 30% of trading volume in the U.S., according to JPMorgan (NYSE:JPM). That’s a marked change from 2020 when these so-called retail traders were seen as small-time players dabbling in stock markets.
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