Wells Fargo advisers barred from GameStop, AMC recommendations – Bloomberg

Wells Fargo & Co. has barred its advisers from making stock recommendations on GameStop Corp. and AMC Entertainment Holdings Inc., Bloomberg News reported on Jan. 27, citing a company spokesperson.

The news comes after a massive push from online retail traders led to the spiking of both companies' shares. The spokesperson told the news outlet that clients can continue to call their advisers to initiate trades for GameStop and AMC stocks.

On Jan. 27, the Securities and Exchange Commission said it is keeping a close watch on volatility in the options and equities markets, according to the report.

TD Ameritrade Inc. has also decided to limit certain transactions on shares of GameStop and AMC. Some TD Ameritrade clients faced slowness or difficulty accessing their accounts on the brokerage's app due to "unprecedented volumes" in the morning of Jan. 27, TD Ameritrade spokesperson Alyson Nikulicz said in an email to S&P Global Market Intelligence. The issue has since been resolved, Nikulicz said.