GameStop shares surge in extended trading frenzy – business live
Rolling coverage of the latest economic and financial news as organised retail traders continue to cause mayhem for Wall Street
- ‘Sending a message’: GameStop investors on why they bought shares
- How GameStop found itself at the centre of a groundbreaking battle between Wall Street and small investors
Sushil Kuner, financial services lawyer at Gowling WLG, says:
The FCA is right to issue this stark reminder of the need to adhere to the Market Abuse Regulations. The furore and excitement of share dynamics can soon dispel as the reality of falling foul of the law hits hard.
The Financial Conduct Authority has issued its own statement following the SEC warning:
We’re warning UK investors in certain US listed shares which are being discussed online to use extreme caution. Volatile markets are unpredictable and mean you can quickly lose money. Losses are unlikely to be covered by the Financial Services Compensation Scheme #wallstreetbets
Read the original article at The Guardian