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GameStop and AMC stocks at the center of between on Reddit have Thursday. GameStop shares jumped to a high of $483 per share early in the day, then dropped to around $246 by midday ET, only to rally minutes later to more than $300. AMC, similarly, had gone as high as $16.50 per share before dropping to about $8 and then inching up to $9.50.
The moves came after popular stock trading apps such as at least a dozen times.and TD Ameritrade announced of stocks being heavily bet on, including GameStop and AMC. The New York Stock Exchange as well has stepped in , temporarily halting AMC trading at least 10 times since the market opened at 9:30 a.m. ET, and GameStop shares
The moves mark the spectacle of what some investors call a war between Wall Street and social media traders. The Reddit community r/WallStreetBets has become a central hub of a financial push to hurt Wall Street investors who bet big against GameStop’s future. As the social media investors pushed shares of the company up, Wall Street has had to recalibrate its bets, pushing shares.
Reddit users have expressed furor atand TD Ameritrade for restricting trades, with threats of lawsuits already spreading around social media.
Meanwhile, social media traders are encouraging fans to “,” as they call it, and not sell off their shares. That may’ve helped the share prices creep back up after their dramatic drops.