IG Group Holdings Plc restricts trading on AMC and GameStop due to extreme volatility

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IG Group restricts trading on GameStop and AMC due to 'extreme volatility'

 Can you guys believe the online trading platform IG Group Holdings Plc said on Saturday it will most definitely restrict any new positions on GameStop Corp and AMC Entertainment due to "extreme volatility" in the market. This isn't a surprise if you ask me!

IG Group said "Due to extreme volatility, and to prioritize 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. 

Check out their tweet below and read for yourself! You can't make this mess up!

The company is one of the many 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. The stocks 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

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Source Reuters

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Tuesday, 16 July 2024

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