- What happened last week?
GameStop stock surged on Monday. Robinhood temporarily paused trading of GameStop and other stocks.- The
SEC on Friday said it was "closely monitoring" the situation.
What happened last week? An army of retail traders, led by Reddit's $4, poured money into shares of GameStop, $4, as part of a battle against Wall Street short sellers.
GameStop stock surged to record highs
As GameStop stock surged, loses mounted for short sellers like $4 and $4. Hedge funds $4 on the stock this year.
Some on Reddit said the stock rally $4 for the 2008 financial collapse. GameStop, which $4, ended the trading week with a market cap of about $22.67 billion, according to Yahoo Finance.
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Robinhood temporarily paused GameStop trading
As retail traders pushed GameStop, AMC, and other stocks to record highs, retail investing app Robinhood $4. Representative Alexandria Ocasio-Cortez $4 to block trading "unacceptable." Robinhood users $4 suit against the app.
The company $4 that its deposit requirements increased so rapidly that it had to block purchases to "comfortably" meet SEC regulations.
In the UK, meanwhile, the World Wide Robin Hood Society's Twitter following $4, as users seemed to mistake it for the Robinhood app.
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The SEC said it was "closely monitoring" the situation
After Senator
In a statement, the agency said: "The Commission is closely monitoring and evaluating the extreme price volatility of certain stocks' trading prices over the past several days. Our core market infrastructure has proven resilient under the weight of this week's extraordinary trading volumes."
It added: "Nevertheless, extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence."
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ICYMI
Here's what happened $4. See you next week.