Meme Stocks Mired in Longest Losing Run Since Frenzy Began
- Basket of retail traders falls for a sixth-straight session
- Selloff marks another turn for latest meme-stock rout
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Retail investors who fueled a basket of meme stocks to meteoric heights are getting pummeled by a risk-off environment and waning enthusiasm for their favorite high-flying stocks.
The group of 37 so-called meme stocks tracked by Bloomberg fell 0.5% on Monday, marking a sixth straight decline, after its worst week since late February. The basket’s longest losing streak since taking Wall Street by storm comes as the spread of the delta variant sparked concerns about the future of global economic growth.