Facebook temporarily shuts stock trading group after GameStop frenzy

FILE PHOTO: A 3D-printed Facebook logo is seen in front of a stock chart in this illustration taken November 3, 2016. REUTERS/Dado Ruvic/Illustration

(Reuters) - Facebook Inc took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move its founder said was an unjustified response to conversations that have buoyed shares in GameStop Corp and other companies.

GameStop, AMC Entertainment Holdings Inc and BlackBerry have been at the centre of a market battle as individual investors coordinating on social media, including Reddit, and using trading apps such as Robinhood, bought shares and squeezed hedge funds that had bet big the companies would fall.