Meme stock Magic Empire down 6.5%

Shares of meme stock Magic Empire Global Ltd. MEGL fell 6.5% in premarket trades Tuesday, pulling back after ending Monday’s session up 27%. The stock saw trading volume of 6.5 million shares Monday, more than double its 65-day average trading volume of 2.26 million shares. The Hong Kong-based financial services provider is one of a number of small-cap Chinese stocks that have been attracting meme-like attention recently, notably TOP Financial Group Ld. TOP. Magic Empire has a market cap of $36.7 million.

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