TD Ameritrade reportedly bans trading of GameStop, AMC stock – CNET

Investors are making some big deals with shares of GameStop. 

GameStop’s stock continues to make big moves Wednesday as it surpassed the $300 a share price, fueled by Reddit users taking on Wall Street. Investors faced multiple issues trying to log in to their preferred investing sites and apps this morning as many experienced service disruptions, according to Bloomberg. The frenzy over GameStop stock reportedly led to one brokerage service hitting the brakes. 

An image circulated on social media Wednesday just after 12 p.m. ET showed a warning from TD Ameritrade saying it put restrictions on the trading of stocks for GameStop, AMC and others. The brokerage firm hasn’t confirmed the restrictions but did tweet earlier in the day that its mobile app was having issues due to the volume of trades happening. 

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“In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME [GameStop], $AMC [AMC Theaters] and other securities,” reads the TD Ameritrade message. “We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.”   

TD Ameritrade didn’t immediately respond to a request for comment. 

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