Robinhood takes the restricted list to 8 shares, but users can still buy only 1 share of Gametop

Robinhood is limiting its list of restricted shares, but will still place a limit on purchasing shares of Heavy Shortside Gametop Corp. and AMC Entertainment Holdings Inc. when trading begins.

On its website, the online brokerage on Sunday adjusted its list of restricted shares from 50 to eight: Gametop GME,
+ 67.87%,
+ 53.65%,
Blackberry Limited BB,
Express, Inc.
+ 27.66%,
Genius Brands International Inc. GNUS
Koss Corp KOSS,
+ 52.53%,
NAKD, the nude brand group
+ 18.71%
And Nokia Corp. Nokia,

Restricted Stocks of Robinhood.

Robin Hood

By the limit, Robinhood users can only buy a portion of Gamestop (and up to five option contracts), and up to 10 (and 10 option contracts) of AMC.

“Please note that these are in totality There are no limits and counter-order limits for each security, and include contracts for shares and options that you already Hold, ”Robinhood said. “These limits may be subject to change throughout the day.”

Read: The biggest loss from GameStop turmoil? A preliminary list

Robinhood said that for users whose holdings already exceed those numbers, the posts will not be sold or closed. “However, you will not be able to open more positions of each of these securities, unless you sell enough of your holding that you are below the respective threshold,” Robinhood said.

Last week, Robinhood sparked a massive fury from some users – and lawsuits – by restricting trade to a number of volatile stocks.

See more: Opinion: Why regulators shouldn’t be trigger-happy to rein in GameStop’s stock frenzy

Gamestock shares rose more than 400% last week and have increased by more than 1,600% this year following the effort of online merchants, and encouraged on Reddit message boards to increase short sellers. AMC shares rose 280% last week, and so far is 525% year over year.


Leave a Reply

Your email address will not be published.