Shares of movie-theater chain AMC tanked over 30% on news last Friday that rival company Cineworld is reportedly filing for bankruptcy as attendance struggles to recover from pandemic lows. Meme stocks like Bed Bath & Beyond and AMC Entertainment, which made a comeback during this summer’s rally, plunged on Monday. Since then, the S&P 500 rallied nearly 15%, though a more than 3% decline last week ended the benchmark index’s recent streak of four consecutive weeks of gains. Bed Bath & Beyond launched its Labor Day sale featuring deals on furniture, mattresses, kitchen appliances, and more.

The stock market fell roughly 20% in the first half of this year, plunging into bear market territory before reaching a low point on June 16. “Last week brought an end to the late summer winning streak that saw stock markets recover a significant-and some would argue overly so-portion of the losses endured this year,” explains Craig Erlam, senior market analyst at Oanda. Amazon (11) Bed Bath & Beyond (7) buybuy BABY (4) MORE + Top Kitchen Timers brands.

“Rallies can’t go on forever, so the pullback shouldn’t surprise anyone, but if the bulls don’t get back on the field soon, the S&P 500’s chart will only look increasingly worse,” the firm predicts. The summer gains look like a “textbook example of a bear market rally,” which appears to be “grinding to a halt,” according to Bespoke Investment Group.

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