GameStop Trading Ought To Be Halted for 30 Days, One Regulator Says
As the headline-making short squeeze of video game and electronics retailer GameStop Corp. (NYSE: GME) continues, one government official is calling for a month-long halt to trading of the company's shares. Barron's reports that Secretary of the Commonwealth of Massachusetts William Galvin wants a 30-day trading suspension, remarking, "small and unsophisticated investors are probably going to get hurt by this."
Galvin says the New York Stock Exchange ought to "consider simply suspending it for a month and stop trading it," and that there is "no rational basis for this run up." He offers the opinion that GameStop's current trading "needs some regulatory intervention" and an "example" needs to be made of GameStop to prevent similar occurrences.
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Source Fool.com
