GameStop, AMC Drag Meme Stock Group to 7-Month Low
- Gaming retailer falls 14% Monday; AMC shares drop 18%
- Meme stock basket is down 24% in the past three weeks
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Losses for a basket of so-called meme stocks are mounting, with traders shifting away from riskier assets in the final weeks of the year.
The group of 37 retail trading favorites tracked by Bloomberg extended losses to 5.5% on Monday, as selling pressure for markets around the globe accelerated. The index has shed almost a quarter of its value over the past three weeks as it slides to the lowest level in seven months.