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

(Reuters) – Online trading platform IG Group Holdings Plc said on Saturday it will restrict any new positions on GameStop Corp (NYSE:) and AMC Entertainment (NYSE:) due to “extreme volatility” in the market.

“Due to extreme volatility, and to prioritise the service we give our existing clients, we are not allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment,” London-based IG said in a tweet https://twitter.com/IGcom/status/1355507435453243402.

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

The company is the latest trading platform announcing restrictions following a surge in volumes in recent days stemming from calls on social media by individual investors to trade stocks like GameStop and AMC that were being heavily shorted by hedge funds.

On Friday, the U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds, warning brokerages and social-media traders it was on alert for any wrongdoing in this week’s roller-coaster trade.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *