IG Group restricts buying and selling in GameStop and AMC as a consequence of Reuters’ “excessive volatility”
© Reuters. FILE PHOTO: A GameStop store can be seen in New York
(Reuters) – The online trading platform IG Group Holdings Plc announced on Saturday that it would limit new positions to GameStop Corp. (NYSE 🙂 and AMC Entertainment (NYSE 🙂 due to “extreme volatility” in the market.
“Due to the extreme volatility and to prioritize the service we offer our existing customers, we do not allow new positions in the US stocks GameStop and AMC Entertainment,” said IG, based in London, in a tweet https: / / twitter .com / IGcom / status / 1355507435453243402.
“These restrictions are reviewed regularly,” he added.
The company is the latest trading platform to announce restrictions after rising in volume over the past few days due to individual investors calling on social media to trade stocks like GameStop and AMC, which have been severely cut by hedge funds.
On Friday, the US Securities and Exchange Commission got into the battle between retail investors and Wall Street hedge funds, warning brokers and social media traders and warning of misconduct in this week’s roller coaster trading.
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