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Create 2021-06-07-Citigroup-Goldman-Sachs-and-BofA-Restrict-Shorting-on-GME.md

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Citigroup, Goldman Sachs, BofA restrict shorting on GME, adjust their "risk controls". "Institutional investors now face higher collateral reqs" -- June 4, Bloomberg
=====================================================================================================================================================================
| Author | Source |
| :-------------: |:-------------:|
| [u/strong-ape-bro](https://www.reddit.com/u/strong-ape-bro/) posted by [u/Lucky2240](https://www.reddit.com/user/Lucky2240/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nui12c/citigroup_goldman_sachs_bofa_restrict_shorting_on/) |
---
[News 📰 | Media 📱](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22News%20%F0%9F%93%B0%20%7C%20Media%20%F0%9F%93%B1%22&restrict_sr=1)
Posting this for [u/strong-ape-bro](https://www.reddit.com/u/strong-ape-bro/) due to lack of karma. All credit to him! Edit: added screenshots
[![r/Superstonk - Citigroup, Goldman Sachs, BofA restrict shorting on GME, adjust their "risk controls". "Institutional investors now face higher collateral reqs" -- June 4, Bloomberg](https://preview.redd.it/fsqmw907pv371.png?width=640&format=png&auto=webp&s=f072b45d582052be91ede94053b655522f4a759c)](https://preview.redd.it/fsqmw907pv371.png?width=640&format=png&auto=webp&s=f072b45d582052be91ede94053b655522f4a759c)
His thoughts:
" Citigroup, Goldman Sachs, BofA restrict shorting on GME, adjust their "risk controls". "Institutional investors now face higher collateral reqs" -- June 4, Bloomberg
This is freaking huge.
3 of the biggest prime brokers are pulling the plug on 1) shorting GME and 2) increased collateral requirements.
Bloomberg article: <https://www.bloomberg.com/news/articles/2021-06-04/wall-street-banks-rein-in-hedge-funds-short-bets-on-meme-stocks>
[![r/Superstonk - Citigroup, Goldman Sachs, BofA restrict shorting on GME, adjust their "risk controls". "Institutional investors now face higher collateral reqs" -- June 4, Bloomberg](https://preview.redd.it/ikbu389bpv371.jpg?width=640&format=pjpg&auto=webp&s=882883f1c27272cdbc5307815f960ab311a4b9fe)](https://preview.redd.it/ikbu389bpv371.jpg?width=640&format=pjpg&auto=webp&s=882883f1c27272cdbc5307815f960ab311a4b9fe)
[![r/Superstonk - Citigroup, Goldman Sachs, BofA restrict shorting on GME, adjust their "risk controls". "Institutional investors now face higher collateral reqs" -- June 4, Bloomberg](https://preview.redd.it/1zai4bphpv371.jpg?width=640&format=pjpg&auto=webp&s=374e67fa884adfaa34acd12f434e355dff716d4c)](https://preview.redd.it/1zai4bphpv371.jpg?width=640&format=pjpg&auto=webp&s=374e67fa884adfaa34acd12f434e355dff716d4c)
For those unaware:
1. [Bank of America is the prime broker for 96% of Citadel's "activities"](https://www.reddit.com/r/Superstonk/comments/nsioql/the_complete_bank_of_america_gamestop_dd/).
2. BofA recently terminated analyst coverage of GME.
3. On June 4, BofA also restricted short positions on GME and increased collateral requirements for existing positions.
4. Citigroup, Goldman Sachs did the same.