GameStop stock falls again, heads for longest losing streak in 5 years

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Shares of GameStop Corp. GME, +1.97% slid 2.7% in premarket trading Monday, putting them on track to suffer the longest losing streak in nearly five years. The meme stock has already plunged 26.7% over the past eight trading sessions, which matched eight-day loss streak that ended Jan. 20, 2022. If the videogame retailer’s stock closes down on Monday, a ninth-straight loss would mark the longest stretch of losses since the 11-day stretch that ended Nov. 7, 2017. GameStop’s recent weakness comes as other meme stocks have also taken a hit, with AMC Entertainment Holdings Inc. shares AMC, +3.27%, which have dropped in seven of the previous eight sessions, losing 39.8% over the past eight days. The movie theater chain’s stock was down 2.5% in Monday’s premarket. Home goods retailer Bed Bath & Beyond Inc.’s stock BBBY, +24.77%, which rallied 6.5% in Monday’s premarket, has declined in five of the past eight sessions, but has tumbled 48.2% during that stretch. Meanwhile, futures ES00, +0.89% for the S&P 500 SPX, -0.67% fell 0.9% ahead of Monday’s open, after the S&P 500 lost 5.7% the past eight sessions.

This article was originally published by Marketwatch.com. Read the original article here.

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