Speculative trades including GameStop and AMC Entertainment were hit hard Monday, as investors dumped risky meme names after a head-turning year.
Still, Monday's sell-off doesn't make a huge dent in the meme stocks' meteoric rallies this year. AMC shares are still up more than 970% on the year, and GameStop has a rally over 630% in 2021 under its belt.
The rally has pushed GameStop to the Russell 1000 Index of large-cap stocks from the small-cap Russell 2000.Earlier this year, a band of retail traders coordinated trades on social media and managed to create huge squeezes in a slew of heavily shorted stocks. The short interest in these names have come down drastically after the jaw-dropping episode.
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