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AMC’s Stock Plummets 61% as Robinhood, TD Ameritrade Restrict Trading
Popular trading app said it was restricting AMC and GameStop trading based on “recent volatility,” infuriating many users and shareholdersSean Burch | January 28, 2021 @ 8:19 AM Last Updated: January 28, 2021 @ 8:23 AM
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AMC’s wild week continued on Thursday morning, with the nation’s largest cinema chain dropping 61% an hour into trading. The drop comes after AMC’s share price rocketed higher a day earlier, moving from about $5 per share to nearly $20, and also after Robinhood and TD Ameritrade, the popular trading platforms, restricted users’ ability to trade the company and GameStop, another company that’s seen its share price zoom higher in the last week, on Thursday.