What does GameStop story mean for future of Wall Street?
Walser Wealth Management CEO Rebecca Walser, FOX Business’ Charlie Gasparino and Connell McShane weigh in on how Wall Street has reacted to the GameStop stock price surge and Robinhood limited trading.
Charles Schwab on Thursday notified users of larger call volumes and longer-than-usual hold times, as well as technical issues, due to an "unprecedented week of trading."
Continue Reading Below
Schwab, the parent of TD Ameritrade, experienced "heightened trading volume and volatility" this week following an unexpected surge in share prices for stocks that were expected to fall, including GameStop, AMC Entertainment, Bed Bath & Beyond, BlackBerry and others.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||13.45||+4.77||+54.94%|
|BBBY||BED BATH & BEYOND INC.||34.44||+0.80||+2.38%|
"This week has included some of the highest-volume days in market history, driven in part by market volatility, short-selling activity, and heightened trading activity," Jonathan Craig, senior executive vice president of investor services, said in an emailed statement.
He continued: "We know, over the long term, what’s most important is to rely on traditional disciplines around asset allocation and diversification, tune out the noise to the extent possible, and stick to your long-term goals."
GAMESTOP STOCK PRICE FRENZY: WHAT TO KNOW
Craig added that a surge in trading activity across the industry has "led to significant call volumes and hold times, as well as challenges with online functionality at market open for some clients."