WASHINGTON (Reuters) – US securities regulator suspended 15-day securities trading on Friday due to “questionable trading activity and social media”, the latest in a series of temporary negotiations stalling in the midst of volatile trading in so-called “meme stocks”. ”
The Securities and Exchange Commission acted because none of the companies has submitted any information to the regulator for more than a year, it said in a statement. This is the third wave of suspensions from the regulator in response to social media activity.
Retail interest in certain stocks, most notably GameStop Corp, has risen in a social media frenzy, leading to unstable trading.
The SEC continues to review market and trading data to detect other stocks to “attempt to potentially exploit investors during recent market volatility,” the agency said Friday.
For a full list of suspensions announced Friday, go here: here.
Reports by Tim Ahmann and Chris Prentice; Written by Mohammad Zargham; Edited by Richard Chang