Stock in the struggling retailer plunged Thursday after several online brokerages restricted trading the company’s stock. The stock soared for days thanks, in part, to younger investors.Friday it is"closely monitoring and evaluating the extreme price volatility of certain stocks’ trading prices over the past several days."Reddit
The Friday statement from the heads of the SEC -- Acting Chair Allison Herren Lee, Commissioner Hester M. Peirce, Commissioner Elad L. Roisman and Commissioner Caroline A. Crenshaw -- noted that while the market's infrastructure"has proven resilient" this week,"extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence.
As retail investors impacted the market, creating major losses for some hedge funds, the trading platformfrom purchasing shares of GameStop, as well as certain transactions for other r/wallstreetbets favorites. TD Ameritrade also confirmed to ABC News on Thursday that it had"placed restrictions on some transactions" for GameStop stock, though it emphasized that it"has not halted trading in any securities."