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TD Ameritrade is restricting trading for Gamestop, AMC movie theaters and a few other securities following the massive explosion of their stock prices driven by a Reddit-led investing craze.
"We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors," the company wrote in a statement. The company did not specify what types of restrictions it had put in place.
Gamestop and AMC prices have exploded following a coordinated effort led by retail investors on the subreddit r/WallStreetBets.
Anna Kramer is a reporter at Protocol (@ anna_c_kramer), where she helps write and produce Source Code, Protocol's daily newsletter. Prior to joining the team, she covered tech and small business for the San Francisco Chronicle and privacy for Bloomberg Law. She is a recent graduate of Brown University, where she studied International Relations and Arabic and wrote her senior thesis about surveillance tools and technological development in the Middle East.