(Finance) – The second session with a vertical collapse for Bed Bath & BeyondUS household goods chain, also pushes down the other “meme stocks”. Shares of the US firm, whose value had more than quadrupled in the past two weeks, underwent a sharp correction after Ryan Cohen revealed that he has sold his stake 9.8%. Chewy co-founder and president of GameStop it had acquired a significant stake in March to encourage the company to explore strategic alternatives, including a potential sale.
With the expression “meme stock mania“it refers to the period of early 2021 in which GameStop, AMC Entertainment and other companies were pushed to triple-digit increases by the purchases of retail investors coordinating online. In the last year and a half these stocks have then gone through other phases of high speculation, remaining on the radar of small traders who use social networks such as Reddit and Twitter to exchange information.
Worsens the performance of Bed Bath & Beyondwith a discount of 40.22%, reaching 11.09. Expected for the rest of the session an extension of the bearish phase with a support area seen at 10.36 and subsequent 9.64. Resistance at 11.98.
Negative sitting for Gamestopwhich is positioned at 34.84 with a 8.15% drop. A further fallback is expected towards the support area seen at 34.15 and later at 33.45. Resistance at 38.13.
Downhill Amc Entertainment Holdingswhich stood at 17.91, with a decrease of 7.15%. Expected for the rest of the session an extension of the bearish phase with support area seen at 17.53 and later at 17.16. Resistance at 18.62.
Downhill I win Ventureswhich comes in at 1.095, with a drop of 24.48%. Expected for the rest of the session an extension of the bearish phase with support area seen at 1 and later at 0.905. Resistance at 1.26.
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