Shares of meme stocks AMC Entertainment Holdings (NYSE: AMC), SmileDirectClub (NASDAQ: SDC), and Sundial Growers (NASDAQ: SNDL) were declining today, down 9.5%, 3.6%, and 1.9%, respectively, as of 3:40 p.m. ET. There wasn't any news regarding these meme stocks in particular today; however, potential bad news at another meme stock appeared to cause a sell-off in other favorites of the WallStreetBets crowd. Fellow meme stock Bed Bath & Beyond (NASDAQ: BBBY) had plunged about 23% as of 3:40 p.m. ET, following a filing last night by major shareholder Ryan Cohen.
LEAWOOD, Kan., August 18, 2022--AMC Chairman and CEO Adam Aron said, "Yesterday Cineworld, which is the world’s second-largest movie theater circuit, issued a public statement that it anticipates low levels of admissions until November 2022, which are expected to negatively impact its liquidity position in the near-term."