Robinhood lifts trading restrictions on all stocks including GameStop, AMC
Updated: 3:51 AM EST Feb 5, 2021
Trading platform Robinhood lifted restrictions on trading shares of GameStop Corp. and AMC Entertainment Inc. late Thursday.“There are currently no temporary limits to increasing your positions,” Robinhood said on its website Thursday night.The news comes following a roller-coaster period last week. Highly volatile trading of GameStop and other stocks erupted when amateur traders, many gathering on the Reddit forum r/wallstreetbets, took advantage of the heavy short selling on underdog stocks like GameStop, and invested heftily, spoiling short-seller's positions.Robinhood users became irate at the service, some even bringing lawsuits, when the trading platform restricted trading of 50 highly volatile stocks that were majorly shorted. Robinhood eased up on the restrictions Sunday, bringing that number down to eight. Still, GameStop and AMC remained on their list. The relaxing of restrictions comes as GameStop, AMC and other stock, once propped up by the hype of mass-investment, seem to be coming down.GameStop had a 500-share purchase limit earlier Thursday, and AMC had a 5,500-share limit.
Trading platform Robinhood lifted restrictions on trading shares of GameStop Corp. and AMC Entertainment Inc. late Thursday.
“There are currently no temporary limits to increasing your positions,” Robinhood said on its website Thursday night.
The news comes following a roller-coaster period last week. Highly volatile trading of GameStop and other stocks erupted when amateur traders, many gathering on the Reddit forum r/wallstreetbets, took advantage of the heavy short selling on underdog stocks like GameStop, and invested heftily, spoiling short-seller's positions.
Robinhood users became irate at the service, some even bringing lawsuits, when the trading platform restricted trading of 50 highly volatile stocks that were majorly shorted.
Robinhood eased up on the restrictions Sunday, bringing that number down to eight. Still, GameStop and AMC remained on their list.
The relaxing of restrictions comes as GameStop, AMC and other stock, once propped up by the hype of mass-investment, seem to be coming down.
GameStop had a 500-share purchase limit earlier Thursday, and AMC had a 5,500-share limit.
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