Robinhood GameStop imposes trading restrictions on AMC stock

Online trading platform Robinhood launched GameStop Corp. late Thursday night And AMC Entertainment Inc. Lifted trading restrictions on shares of.

Robinhood’s website said Thursday night, “There is currently no temporary limit to increase your positions.”

Last week, Robinhood sparked anger – and lawsuits – from some users by restricting the trading of 50 highly volatile stocks – which were too few. That list was reduced to eight on Sunday, and until Thursday just Gametop and AMC remained. Earlier on Thursday, GameStop had a 500-share buy limit, while AMC had a 5,500-share limit.

GameTop due to the easing of restrictions comes in the form of a massive wave raised by AMC and others that crash amid growing regulatory scrutiny. After an all-time high hit of $ 483 on January 28, Gametop shares to GME,
It was down 42% on Thursday to close at $ 53.50, and is down 84% this week. AMC shares, AMC
There is a 47% drop this week, down 21% on Thursday to close at $ 7.09.

Treasury Secretary Janet Yellen held a meeting with top financial regulators on Thursday and vowed to protect investors and maintain a “fair and efficient market”.

The highly volatile trading was done by online commentators, especially on Reddit, who bought shares in several companies to tarnish the positions of short-sellers.