US brokers yesterday and today banned the purchase of new stocks of companies that have recently become the target of a group of investors from Reddit. These were the companies that were shortened the most by hedge funds. This "non-market" practice from the brokers side led to a panic sell-off. At one point stocks fell even 90%. The Rollercoster, however, continues! GameStop shares fell from $ 450 to under $ 30 today, and now are trading around $ 200. Is this the end of this market incident? Or is it just its beginning?
Rollercoaster on GameStop and AMC shares. Source: xStation5
