FILE PHOTO: An AMC movie theater is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan neighborhood of New York City, New York, the United States, Jan. 27, 2021. REUTERS / Carlo Allegri
June 4, 2021
(Reuters) – TD Ameritrade has introduced trading restrictions on the shares of AMC Entertainment Holdings, the retail broker’s website revealed on Friday.
Trading in the stock will be limited to clients who have own capital and no borrowed funds, TD Ameritrade said, adding that some additional requirements may apply to trading options that expire on June 11.
The news comes as AMC stock tossed back and forth between gains and losses on Friday morning after a blistering rally that saw the company’s stock rise about 90% for the week.
AMC has been at the center of a second wave of retail purchases who hyped the stock on forums like Reddit’s WallStreetBets and reinvigorated the “meme stock” phenomenon, which rose shares of video game retailer GameStop by 1,600% in January.
(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)
This article originally appeared on www.oann.com