IIROC, CSA say they will act if they see manipulative trading in social media frenzy - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.
Interest in shorting GameStop down
The regulators also said that they will be making sure companies meet disclosure requirements for anything material that might affect their stock prices.
Toronto-listed shares of BlackBerry closed up 4.7 per cent on Monday, but are still down nearly 18 per cent over the past five days after whipsawing last week. The stock has been popular on Reddit forum BayStreetBets, the Canadian counterpart to U.S. viral phenomenon WallStreetBets.
In the U.S., shares of GameStop dipped below $100 a share. At one point last week they were trading at almost $500, after a WallStreetBets campaign to buy up the shares and punish short sellers in the process.
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