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 BBBY,
-3.17%
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. AMC,
-2.90%
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. GME,
-2.80%
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 SPX,
+1.83%
shot up 1.6% and the Dow Jones Industrial Average DJIA,
+1.43%
jumped 478 points, or 1.5%, after upbeat inflation data.