Trading suspended for everyday investors amidst unprecedented gains
A surge in Canadian trading of internet promoted stocks including AMC, BlackBerry and Gamestop led to stock halts and trading disruptions Thursday. This came amid a social media based push that fuelled huge price gains and high trading volume for BlackBerry, GameStop and other stocks, which led to smaller traders making huge gains.
Wall Street hedge funders called on the the Investment Industry Gaming Organization to suspend the trading of some of these stocks. The regulatory organization suspended trading of BlackBerry twice as shares surged more than 40 percent amid triple the usual trading volume.
Mike Timchuk is a trader in Medicine Hat, and explains some of the chaos that unfolded Wednesday.