A look at the NYSE Big Board as Robinhood restricts trading on GameStop and other companies

Robinhood on Thursday blocked users from buying or trading stocks popular on a Reddit subforum, including GameStop, AMC and BlackBerry.

Under the new limits, users will be allowed to close out existing trades, but won’t be able to acquire new shares.

“We continuously monitor the markets and make changes where necessary,” the day-trading app wrote in a blog post. “In light of recent volatility, we are restricting transactions for certain securities to position closing only.”

The decision to restrict trading of the skyrocketing stocks comes amid an effort by users on the r/WallStreetBets forum to work together to drive up the price of stocks that traditional hedge funds have shorted.

More traditional trading platforms like Charles Schwab and TD Ameritrade earlier restricted trading of the popular shares.
You can read more here: https://thehill.com/policy/technology/536272-robinhood-restricts-trading-on-companies-targeted-by-reddit-users

#GameStop $GME

Видео A look at the NYSE Big Board as Robinhood restricts trading on GameStop and other companies канала The Hill