What goes up must come down.

Unfortunately, some of us learned that the hard way with meme stocks this week.

Over the last few days, shares of AMC Entertainment ran from a low of $2.90 to a high of $11.88. All as “Roaring Kitty” sparked a flurry of meme stock buying activity. 

And while it’s been fun to watch AMC scream higher, it’s never a good idea to chase these. Shortly after AMC hit a high of $11.88, sellers cut in in half. Now trading at just $4.87, the bag holders aren’t happy.

The same thing happened with GameStop (GME).  The stock roared from about $16.88 to a high of $64.83. It’s now back to $31 and sinking.

And just in case you think GME and AMC are done falling, they’re not.