The Verge
E-Trade confirms it halted GameStop and AMC stock, will let you buy some Friday
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Financial services company E-Trade has restricted purchases of GameStop and AMC stock, the company has confirmed to The Verge — and, like Robinhood, it plans to resume trading of both stocks on Friday.
The two stocks have become popular on forums like the r/WallStreetBets subreddit and seen their prices skyrocket to unprecedented highs over the past week. (GameStop hit $483 earlier on Thursday and briefly went above that during the day. Last Thursday, the stock closed at $43.)
Here’s E-Trade’s full statement:
Amid the extraordinary volumes in GME and AMC, we chose to limit client activity in these names late in the trading day in order to ensure that we could continue to serve our broader client base. We take actions like this seriously,...