WASHINGTON (Reuters) – US securities regulators on Friday suspended trading in 15 companies because of “questionable trading activity and social media”, the latest in a series of temporary transactions that stop on the background of volatile transactions in so-called “meme shares”. ”
The Securities and Exchange Commission acted because none of the companies had submitted information to the regulator for more than a year, according to a statement. This is the third and largest wave of suspension by the regulator in response to social media activity.
Retail interest on certain stocks, especially GameStop Corp, has risen in a social media frenzy, leading to volatile trading.
The SEC continues to review market and trading data to identify other securities for “possible attempts to exploit investors during recent market volatility,” the agency said Friday.
For a full list of suspensions announced on Friday, go here: here.
Reporting by Tim Ahmann and Chris Prentice; Written by Mohammad Zargham; Edited by Richard Chang