Meme stocks Bed Bath & Beyond, AMC extend pullbacks after snapping long win streaks

Shares of a number of meme stocks extended their pullbacks Wednesday, despite a big rally in the broader stock market, after they snapped long win streaks in the previous session. Bed Bath & Beyond Inc.'s stock fell 5.6% in morning trading, after dropping 14.2% on Tuesday. That decline Tuesday snapped a nine-day win streak, the longest win streak since January 2007, in which the stock skyrocketed 148.0%. Shares of AMC Entertainment Holdings Inc. shed 4.2% on Tuesday, after falling 6.3% Tuesday to snap a six-day win streak (the longest since May 2021), and GameStop Corp. fell 3.3%, after dropping 7.1% Tuesday to snap a nine-day win streak (longest since March 2022). The pullbacks come while the S&P 500 shot up 1.6% and the Dow Jones Industrial Average jumped 478 points, or 1.5%, after upbeat inflation data.

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