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Analysis – ‘Hands off’: Why some U.S. investors are pulling meme stocks from brokerages

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Reuters

By Svea Herbst-Bayliss and Krystal Hu (Reuters) – Jose Castillo pulled his $60,000 worth of GameStop Corp shares from his brokerage last summer, even though he had no intention of selling them. The 26-year-old information technology worker, who lives in the greater Minneapolis area, is among a growing number of investors in “meme” stocks — shares such as GameStop popular with day traders — who are withdrawing them from brokerages out of concern the shares will be lent to hedge funds engaging in short-selling. Castillo pulled the shares out of Fidelity Investments and transferred them to his …

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