By Medha Singh

(Reuters) – Shares in Gamestop Entertainment and AMC Entertainment fell to new multi-month lows Monday, as investors questioned the value of names that have made eye-watering profits earlier this year.

GameStop, a video game retailer (NYSE:), was down 11% to $141.74, shortly touching its lowest level since April. AMC, meanwhile fell 14% 13.64% to $23.64, which is the same level as May’s peak.

These sell-offs are occurring amid declines of other popular assets, some of which have been falling for weeks. This is due to worries about a Federal Reserve that’s more hawkish and COVID-19 revivals shaking some parts.

The ARK Innovation ETF dropped 2.4% recently and 25% over the last year as investors abandoned the names of stay-at-home people that flourished in lockdowns.

Wall Street was captivated by AMC and GameStop rallies earlier this year. This spotlight also focused on retail investors who helped to drive these moves. They often coordinated in forums like Reddit’s WallStreetBets. Their respective gains for this year are over 600% and close to 1,000%.

The news has been mixed for both companies in recent days. GameStop reported a larger-than-expected quarter loss while AMC executives disclosed large stake sales and accelerated losses.

Robinhood Online Brokerage (NASDAQ Markets) was another popular choice among retailers. It dropped to $19 on Monday (5.6%), a new low post-IPO. In July, the company was listed at $38 per share.

VanEck Social Sentiment, which monitors stocks on the basis of social media traction has seen its stock prices plummet by 13% and 5% respectively since March.

Randy Frederick, managing director of trading & derivatives at Charles Schwab Austin (NYSE:), Texas believes that retail investors are running out funds to invest meme stocks or other assets as a result of the government’s stimulus checks, which helped boost trading early in the year.

“People who invested in memes stocks had all of their money and now there is no more.”