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

June 4, 2021 3:09 PM EDT

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(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.

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