Stocks finished sharply lower Wednesday ahead of tech earnings from Tesla (TSLA) - Get Tesla Inc. Report and Apple (AAPL) - Get Apple Inc. Report and after the Federal Reserve decided to leave interest rates unchanged.
Here are some of the big movers in the stock market on Wednesday:
1. AMC Entertainment | Percentage Increase 301%
AMC Entertainment (AMC) - Get AMC Entertainment Holdings Inc. Class A Report shares quadrupled as massive short squeezes continued for select stocks with poor fundamentals.
The country’s biggest movie theater chain has been decimated by the coronavirus pandemic, which closed theaters for months and kept viewers at home.
2. Bed Bath & Beyond | Percentage Increase 43.45%
Bed Bath & Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report climbed even after being downgraded at Wedbush and Baird, bringing the number of ratings cuts to at least four this week as analysts reacted to the home-goods retailer's recent stock-price surge.
Trading was briefly halted shortly after the market opened on Wednesday.
3. GameStop | Percentage Increase 135%
Shares of videogame retailer GameStop (GME) - Get GameStop Corporation Report shares rocketed to an all-time high Wednesday, fueled in part by retail investors in a Reddit-based chatroom known as "Wallstreetbets," where traders share tips, opinions and hype for the stocks they invest in.
An active thread on GameStop currently has around 38,000 comments.
4. Express | Percentage Increase 214%
The company hired investment bank Lazard Frères to help raise enough financing to get the fashion retailer through the coronavirus pandemic, The Wall Street Journal reported last month.