Investors suffer losses as brokerage firms like Robinhood, Webull, TD Ameritrade and M1 Finance restrict trading in Gamestop, AMC, Nokia and other stocks.
Any investor that has followed the news in the past week has since the incredible rise of so-called “Reddit stocks.” Companies like GameStop (ticker symbol GSE), AMC Theaters (AMC) and Nokia (NOK), among others, have surged in value as retail investors have come together to execute a squeeze on hedge funds that shorted these stocks.
On January 28, 2021, Robinhood, Webull, TD Ameritrade, M1 Finance and other brokerage firms halted some trading on these companies. In some instances, investors were not allowed to buy any shares of these companies or otherwise restricted the ability to trade. These firms now face liability for preventing their customers from executing their trading instructions and otherwise assisting in market manipulation.
If you use Robinhood, Webull, TD Ameritrade, M1 Finance or another brokerage firm that restricted your ability to trade, you likely suffered financial losses, in which case you should contact Lewitas Hyman PC immediately. Our attorneys have decades of industry and regulatory experience, and we are actively investigating the situation.