Business
Local broker Stake forced to suspend GameStop trading – Sydney Morning Herald
Australian trading platform Stake has blocked customers from buying high-flying US stocks including GameStop and Nokia due to restrictions imposed by its US broker…
GameStop shares surged more than 1500 per cent last week as an army of retail day traders on Reddit forum WallStreetBets rushed to buy shares in order to create a short squeeze against major US hedge funds that had bet against the struggling companys share price.
To be clear, this is not a decision Stake has made. As DriveWealth is our broker-dealer, we can only reflect the securities they make available. As such, we are unable to confirm when this may change, it said in a statement on Tuesday evening.
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