Why Newegg and Pop Culture Group Stocks Are Tumbling Hard Today

Meme stock volatility was on display again today as Newegg Commerce (NASDAQ: NEGG) had tumbling 24% at noon on no news, one day after it gained meme stock status as its shares surged 160% at one point. Also falling sharply today was Pop Culture Group (NASDAQ: CPOP), a Chinese company that just went public last week. Newegg's meteoric rise was said to be due to the difficulty in finding option contracts to buy on the stock on their first day of trading.