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Robinhood to allow ‘limited buys’ on GameStop, AMC on Friday

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Robinhood to allow 'limited buys' on GameStop, AMC on Friday

Photo caption: Stock up. Getty Images. Article by Oscar Gonzalez and David Priest.

Volatility in GameStop shares has prompted brokerage apps to restrict some trades.

GameStop went on another stock market adventure on Thursday, briefly crossing $450 a share before closing at $193.60. Behind the meteoric rise: Reddit users who’ve banded together to take on the Wall Street establishment.

The rebellion experienced a hiccup when individual investors found out some trading sites and apps had restricted transactions in securities of the beaten-up video game retailer, as well as the movie chain AMC and other companies. Robinhood, a popular investor app, prevented customers from purchasing more shares of several companies, but it’s allowing for “limited buys” starting Friday. […]

 

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