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Wells Fargo Bans Advisers From GameStop, AMC Recommendations

Jan. 27, 2021, 10:30 PM

Wells Fargo & Co. banned its advisers from making stock recommendations on GameStop Corp. and AMC Entertainment Holdings Inc., whose shares have surged on a push from online retail traders.

“As of today, Wells Fargo Advisors is not allowing solicitation of those two securities,” a spokesperson for the bank said Wednesday. Clients can still call their advisers to initiate trades in those stocks, she said.

GameStop added more than $10 billion to its market value on Wednesday alone, after surging 135%. The video-game retailer is now bigger than almost half the members of the S&P 500 index. The ...