Shares of GameStop, AMC Entertainment and other meme stocks numbered among the hardest hit by the market turmoil on 24 January, the latest blow to the favourite bets of many online day traders.

Videogame retailer GameStop and movie theatre operator AMC fell around 6% and 7% respectively on 24 January, outpacing broader stock-market declines before major indexes turned higher in late trading. The drops extended a slump that has dragged down GameStop shares by one-third this year, while AMC shares have lost about 40% during the same period.