IG Group restricts trading on GameStop and AMC due to ‘extreme volatility’ by Reuters

IG Group restricts trading on GameStop and AMC due to ‘extreme volatility’ by Reuters

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© Reuters. MANAGEMENT PHOTO: A GameStop store seen in New York

(Reuters) – Online trading platform IG Group Holdings Plc said on Saturday it would limit any new positions GameStop Corp. (NYSE 🙂 and AMC Entertainment (NYSE 🙂 due to ‘extreme volatility’ in the market.

“Due to extreme volatility and prioritizing the service our existing customers provide, we do not allow any new positions in the US shares of GameStop and AMC Entertainment,” IG in London said in a tweet https: // twitter.com / IGcom / status / 1355507435453243402.

“These restrictions will be reviewed regularly,” he added.

The company is the latest trading platform announcing restrictions following an increase in volumes in recent days due to calls on social media by individual investors to trade stocks such as GameStop and AMC, which have been severely curtailed by hedge funds.

The U.S. Securities and Exchange Commission on Friday became embroiled in a battle between small investors and Wall Street hedge funds, warning brokers and traders on social media that it was on the lookout for any violations in truck trading this week.

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