UPDATE: Wall Street Banks Rein In Hedge Fund Short Bets on Meme Stocks - Bloomberg

June 4, 2021 3:09 PM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(Updated - June 4, 2021 3:13 PM EDT)

Wall Street's top brokers are quietly tightening their rules for who can bet against retail trader's most popular stocks, according to a report from Bloomberg, citing people familiar with the moves.

Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Jefferies Financial Group (NYSE: JEF) are among firms that have adjusted risk controls at prime-brokerage operations. Banks are trying to protect themselves again fallout from extreme surges and dips in companies including AMC Entertainment (NYSE: AMC), GameStop (NYSE: GME), and Microvision (NASDAQ: MVIS), the report said.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Hedge Funds, Momentum Movers, Rumors, Short Sales, Trader Talk

Related Entities

Citi, Jefferies & Co, Hedge Funds, BofA/Merrill Lynch