Meme Stocks Crash as Markets Inch Higher

Last Updated: Thursday, June 10, 2021 2:54 PM | Neal Farmer

During trading Thursday, 204 stocks traded to a 52-week high, while 1 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.5% so far today while the Dow is up 0.23%, the Nasdaq is up 0.74%, and the Russell 2000 is down 0.4%.

Markets are higher Thursday evening as meme stocks tumble downwards. GameStop (GME), AMC Entertainment (AMC), and Clover Health (CLOV) are all down more than 10% with GME in particular dropping 25% so far today. Core Consumer Price Index (CPI) rose 0.7% in May, analysts were expecting a smaller increase of 0.4%. Initial claims dropped from 385,000 to 376,000 claims.

Sector Highlights

Real Estate stocks dominated our list of highs today with 66 out of the 204 total stocks that reached their high coming from the Real Estate sector. The Real Estate sector is outperforming the market, increasing 1.14% so far on the day. Over the last month the Real Estate sector has outperformed the market, increasing 6.77% while the S&P decreased 0.31%.

Real Estate continues to hold the top spot as the sector climbs as a whole, up nearly 7% during the past month in which markets have been flat.


Energy had the second largest presence on our 52-week highs, with 30 out of 204 highs coming from the Energy sector. The Energy sector is underperforming the market today, increasing 0.16% so far on the day. Over the last month the Energy sector has outperformed the market, increasing 2.7% while the S&P decreased 0.31%.

Energy stocks have the second most highs Thursday as the sector continues to gain from a now reopened economy.


The Lists


The following stocks traded to 52-week lows: SRGA,


The following ETFs traded to a 52-week low: VXXVXZ,

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