WASHINGTON D.C.: The U.S. securities regulator, the Securities and Exchange Commission (SEC), has suspended trading in the securities of 15 companies due to questionable trading and social media activities, which are the latest in a string of temporary restrictions related to volatile trading in so-called "meme stocks."
In a statement, the SEC said that it acted because none of the monitored companies have filed information for over one year. This is the regulator's third and most significant suspension in response to social media activity.
Retail interest in certain stocks, most notably in GameStop Corp, surged during a social media frenzy, leading to volatile trading.
The SEC is continuing to review market and trading data to identify other securities linked to potential attempts to exploit investors during the recent period of market volatility, it added.