Square's Cash App says clearing broker resumes buying of AMC, Nokia stocks

Square's Cash App says clearing broker resumes buying of AMC, Nokia stocks

3 years ago
Anonymous $K6XgmDN5_o

https://www.reuters.com/article/us-retail-trading-cash-app/squares-cash-app-says-clearing-broker-resumes-buying-of-amc-nokia-stocks-idUSKBN2A228B

Cash App's halt came on the heels of online brokerage Robinhood placing similar constraints on shares of some companies, as clearinghouse deposit requirements tied to trading volumes jumped and strained its finances. Robinhood on Monday tapped almost $3.4 billion in emergency funding from existing investors to manage the problem.

Square's Cash App says clearing broker resumes buying of AMC, Nokia stocks

Feb 2, 2021, 9:32pm UTC
https://www.reuters.com/article/us-retail-trading-cash-app/squares-cash-app-says-clearing-broker-resumes-buying-of-amc-nokia-stocks-idUSKBN2A228B >Cash App's halt came on the heels of online brokerage Robinhood placing similar constraints on shares of some companies, as clearinghouse deposit requirements tied to trading volumes jumped and strained its finances. Robinhood on Monday tapped almost $3.4 billion in emergency funding from existing investors to manage the problem.