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  • shares of Gamestop went on a wild ride Thursday after trading app.

  • Robin Hood said it was restricting trades in the gaming retailer.

  • The stock has been at the center of a battle between small time traders and deep pocketed hedge funds that has shaken stocks around the world.

  • Interactive Brokers Group said Thursday that it, too, had restricted trades in a number of so called frenzy stocks like Gamestop theater chain AMC and BlackBerry.

  • TD Ameritrade did the same on Wednesday, driven by an army of individual traders using online brokerage APS like Robin Hood and anonymous social media messaging boards.

  • Shares of Gamestop have seen a powerful two weeks surge up an eye popping 1700% hammering fund investors who are betting the stock would fall.

  • Reddit discussion groups were once again humming on Thursday as membership of the trader focused group Wall Street bets raced past four million.

  • Veteran research analyst Michael Pachter of Wedbush Security said.

  • The whole thing feels like a pyramid scheme.

  • Wall Street bets theory is that you know, we will buy it a 20 somebody will buy it from us it 30 and that happened then the next group bought it 30 and somebody by from 40.

  • And it happened then 70.

  • Then 140 than 203 100.

  • And it will keep going up this long as demand stays high.

  • But the question is, you know, when does that demand dissipate?

  • Theater chain operator AMC, which has seen ticket sales almost totally evaporate due to the health crisis, has also gone along for the ride.

  • The stock has skyrocketed tenfold in just a matter of weeks, and it's not just US companies.

  • Several global stocks are caught up in the euphoria as well, which have Onley increased calls for regulatory crackdown.

  • Some professional market watchers say the current frenzy raises all sorts of questions with respect to possible market manipulation.

  • But supporters of the amateur traders say the social media, chat rooms and investing APS are democratizing the world of Wall Street.

shares of Gamestop went on a wild ride Thursday after trading app.

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GameStop stock tumbles as Robinhood restricts trades

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    林宜悉 posted on 2021/01/30
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