Russell Reshuffle May Spell Trouble for Highflying Meme Stocks
- Move out of small-cap gauge could pressure AMC, GameStop
- Wells Fargo warns of ‘beginning of the end’ for ‘epic run’
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The upcoming Russell Indexes reshuffle could pose a problem for the likes of AMC Entertainment Holdings Inc. and GameStop Corp.
FTSE Russell’s annual Reconstitution event, which moves stocks around in its U.S. indexes based on their updated market cap and other characteristics, is set to call attention once again to the rise in so-called meme stocks that have been favorites of the retail-trading crowd.