GameStop, AMC Shares Drop as Meme Stock Campaign Fizzles Out

Shares of the video game retailer GameStop and theater chain AMC dropped late in the week as the meme stock campaign sparked by the return of “Roaring Kitty” fizzled out. GameStop stock dropped 30 percent, closing at $27.67, after reaching as high as $64.83, while AMC stock fell 15.3 percent, according to a report by Reuters. “The short sellers three years ago were completely surprised by the magnitude of the mass purchases and ultimately overwhelmed by the size of the short squeeze,” Cherry Lane Investments partner Rick Meckler said. “They...