Apple stock turns negative, Bitcoin falls below $48,000, AMC and GME plunging

In this article:

Yahoo Finance's Ines Ferre details some notable stocks in midday trading on Monday.

Video Transcript

KARINA MITCHELL: But here watching more of what's going on in the markets is our Yahoo Finance's Ines Ferre.

INES FERRE: And, Karina, if we just take a look at the NASDAQ 100, we've been watching shares of Tesla trading at their lowest level since October. Take a look. Tesla down about 5%-- more than 5% right now, trading below its 50-day moving average. And traders say that this is important because it's commonly seen as a warning sign. So if it closes below that 50-day moving average, this could signal some selling ahead.

Taking a look also at Apple. Apple is down about 2/10 of a percent. It had opened in the green. Apple has been on watch, really, for us as it's been going towards that $3 trillion market cap value, but it had opened earlier higher, and now it's down slightly. Also I want to mention JPMorgan put a Street-high price target on Apple of $210.

Taking a look also at Bitcoin. We've been watching Bitcoin declining, entering its fifth straight week of losses. Bitcoin hovering around the $47,500 level. It briefly dipped below the $47,000 level. Now it's about 30% lower from its record high earlier in November.

And then finally just taking a look at the meme stocks. We've been watching AMC shares and also GameStop shares just plunging. GME down 12% today, and AMC adding to its losses from last week, down 15% today. But last Friday, it closed 7% lower, intraday was down about 9%. CEO Adam Aron has been selling shares of the company, something that he had telegraphed earlier.

But certainly the meme stocks, so to speak, there is a little-- very little appetite for risky assets. And over the last month, you can see their performance. AMC down 42% over a one-month chart. GME down 31%. Karina, Alexis.

ALEXIS CHRISTOFOROUS: All right, thanks a lot. Lots of red there on that screen, Ines.

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