This is a developing story. Check back for updates.
Meme stocks tumbled on Tuesday with huge trading activity in the shares.
GameStop dropped more than 9% with more than 6 million shares traded through 10:15 a.m. ET, already more than its 30-day average full-day volume of 4.6 million.
AMC Entertainment shares lost 3% with 76 million shares traded, already more than its 30-day average of 51 million.
The reason for the moves were not immediately clear, but both stocks are up big this month amid a broader comeback rally on Wall Street so some investors could be using that pop to take profits in the volatile shares.
There was a large block trade of GameStop at the open of trading on the NYSE, according to FactSet data. The NYSE briefly halted both stocks for volatility shortly after the open.
