Robinhood Trading App Lifts Restrictions on All Stocks, Including GameStop
The app previously provoked a wave of outrage from users by restricting the buying of GameStop stocks, claiming the price spike was creating “unreasonable risk”.
Robinhood on Thursday said it has cancelled temporary trading restrictions on all stocks, including GameStop Corp and AMC Entertainment Holdings Inc. The trading limit on GameStop’s shares was earlier set at 500, while the cap for AMC was 5,500 shares.
The brokerage app sparked the fury of many users and plummeted in ratings in January, after it banned people from buying stocks from certain companies purchased en-masse by numerous netizens in an attempt to punish big hedge funds that placed their bets against those said companies.