SEC says it will "closely review" restrictions on Reddit-fueled stocks

Background: Robinhood says that it was forced by a lack of funds to scale back trading in a handful of hot names.

• The SEC says that it's worried about the "extreme volatility" seen in those names, saying that it "has the potential undermine market confidence."
• "[W]e will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws," the agency added. "Market participants should be careful to avoid such activity."

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