Robinhood lifts trading restrictions on GameStop and all other stocks

The Robinhood investment app is see on a smartphone in this photo illustration on June 24, 2020 in Washington,DC. Jim Watson | AFP | Getty Images Stock trading app Robinhood removed temporary trading restrictions on all stocks including GameStop and AMC Entertainment Holdings after a tumultuous week for markets. The company issued an update on its website late on Thursday, saying: “There are currently no temporary limits to increasing your positions.” Earlier in the day, Robinhood users were only able to trade 500 GameStop shares and 5,500 AMC shares, according to Reuters.   A wave of retail investors inspired by the Reddit board WallStreetBets piled in on GameStop shares and other heavily shorted stocks last week, resulting in huge losses for some hedge funds. In a bid to try to manage the situation, Robinhood restricted trading in certain volatile stocks Thursday last week including GameStop, Express, Koss, and legacy phone makers Nokia and Blackberry. Robinhood limited trading in 13 equities in total, allowing clients to sell positions but not open new ones in certain securities, provoking fury from users. On Sunday, Vlad Tenev,  » Read More