Square’s Cash App briefly halts buying AMC and Nokia stock
Cash App, the Bitcoin-friendly mobile payments app from U.S. financial services firm Square, restricted buys of some of the stocks connected to the Wall Street shorts for more than four hours today.
According to an announcement from Cash App, its clearing broker, Axos, halted the app’s ability to complete purchases of stocks for GameStop (NYSE:), AMC Entertainment (NYSE:), Nokia (NYSE:) and Koss Corporation — at least four of the stocks pushed by retail investors on the r/Wallstreetbets subreddit in their fight against hedge funds’ shorts. However, the app later tweeted that the broker has restored trading for AMC and Nokia.
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