Market check: S&P, Nasdaq drop, meme stocks under pressure
Yahoo Finance's Ines Ferre joins the Live show to break down how stocks are moving in early trading.
BRIAN SOZZI: Let's head over to Yahoo Finance's Ines Ferres for some YFi Interactive action. Ines?
INES FERRES: And, Brian, the NASDAQ 100 heading for its worst week since March of 2020. Let's take a look at our YFi Interactive board. You can see here that Amazon is down more than 3%. Tesla down more than 3%.
And I'm gonna put this on an equal weight chart so you can see some of the biggest decliners-- Netflix, as you were just mentioning. But, if I just put a two-month chart, you can see the trend that we've been seeing over the last couple of months. The market's not liking the pandemic darlings, those stocks that really benefited during the lockdowns of the pandemic-- DocuSign, Peloton, Netflix, Zoom. These are the biggest decliners over the last couple of months.
If we look at the electric vehicle space over the last two months, you can also see some of the biggest decliners, which are some of those companies that have prerevenue or low sales or no profit yet. Lucid down 31%. Rivian down 51%.
And, if we look at the speculative assets, these have been heavily under pressure. Today, we're watching AMC down 5% at $17 a share. These are prices that this stock has not seen since May of 2021.
We're also looking at GameStop. That's broken below the $100 level. That price has not been seen since February of last year.
And Robinhood, down more than 3% yesterday, closing at a new low over the last six months. In fact, this stock has lost 80% of its value since those highs back in August of last year. Again, the market not liking [? the ?] [AUDIO OUT] stocks, the companies that did well during the pandemic. Brian, Julie?