BANG stocks take a hit after GameStop discloses regulators on investigating

Shares of so-called “BANG” stocks, which refers to some of the more popular meme stocks, dropped in premarket trading Thursday, amid concerns over increased regulatory oversight. Late Wednesday, GameStop disclosed in a quarterly filing that the Securities and Exchange Commission was investigating trading activity in its stock, and those of “other companies.” GameStop shares fell 6.1% ahead of the open, putting them on track to snap a three-day win streak in which they shot up 21.8% to $302.56 on Wednesday, the highest close since Jan. 29. The selloff comes despite the videogame retailer reported a narrower-than-expected fiscal first-quarter loss and sales that rose above forecasts. Among other “BANG” stocks, BlackBerry Ltd.
BB,
-4.05%
BB,
-4.19%
fell 1.7%, AMC Entertainment Holdings Inc.
AMC,
-10.37%
slid 4.0% and Nokia Corp.
NOK,
-1.61%
shed 1.1%. Meanwhile, futures
ES00,
+0.03%
for the S&P 500
SPX,
-0.18%
edged up 0.1%.