MEGL down -7% as meme stocks plummet, broader market slumps

Magic Empire Global Ltd (MEGL) is trading -7% lower at $12.07 today. While it's a slightly pessimistic day for the Financials sector in general, the stock is trailing it's peers.

There was no clear catalyst for the price move other than a steep selloff in meme stocks and a more broad selloff in the broader market.

Magic Empire Global Ltd has been trading between a 52-week high of $249.94 and a 52-week low of $8.03. The stock has a market cap of $241 Million.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

HumanitasLaude - -5 upvotes - source
Buy GCT $48 per share, but it could hit 100 to 350. you will thank me later. this is the next 8,000% IPO. right here. MEGL jumped from $78 to $350 in premarket. so you never know.