London-based trading platform operator IG Group Holdings Plc said today that it will halt all new positions in GameStop Corp. GME and AMC Entertainment Holdings Inc. AMC.
What Happened: The company announced this today in a tweet, citing "extreme volatility."
Why It Matters: IG is the latest platform to use these restrictions.
Robinhood did so on Thursday and immediately got hit with blowback far and wide. This forced it to have to explain in a blog post last night that its decision had to do with avoiding a breach of its deposit requirements with clearinghouses — not part of a conspiracy to soak everyday traders at the behest of powerful Wall Street interests.
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