Robinhood Markets Inc and Interactive Brokers Restricted Trading
Source: Sagarika Jaisinghani and Shriya Ramakrishnan Reuters, globalnews.ca, January 29, 2021
On Twitter, many observers argued trading platforms were trying to protect Wall Street interests at the expense of retail investors.
GameStop , AMC Entertainment and BlackBerry shares sank on Thursday as online brokerages Robinhood Markets Inc and Interactive Brokers restricted trading in several social-media driven stocks that had soared this week. The trading frenzy shook stock markets in the United States and elsewhere as heavily-shorted stocks rallied, then sold off. The tug-of-war has pitted hedge funds and other short sellers against retail buyers, many motivated by commentary on sites such as Reddit.
AMC stock dropped 60 per cent. GameStop lost 23 per cent Wall Street’s main indexes rose.
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