The subreddit behind the GameStop's skyrocketing share value, r/WallStreetBets, includes big users of Robinhood who felt they were slighted by the decision. The other restrictions are still in place. 3, Robinhood increased the maximum of shares allowed for all the companies, with GameStop's limit up to 500 shares total. The limits included a maximum number of shares users could own (at one point it was down to one GameStop share), no trading options, no borrowing money on credit also known as margin, recurring investments were skipped and no fractional shares, which are slices of a stock that can be bought for as little as a dollar.Īs of Feb. 28 saying it would allow " limited buys" of those company stock starting the next day. Robinhood sent an email to customers in the afternoon of Jan. When did Robinhood let investors trade GameStop shares again? The company also raised $1 billion in emergency capital to make sure customers' trades can happen. Tenev said that since then, the agency has worked with Robinhood to decrease the amount of funds needed. "We had to conform to our regulatory capital requirements." "We had no choice in this case," he said. He went on to explain that the NSCC has a formula to determine how much a deposit it needed and one component of it involved risk, which can act as a kind of multiplier. Tenev provided some context by saying that, up to that point, Robinhood had raised just $2 billion in capital. In addition to AMC Bed, Bath and Beyond GameStop and Nokia, the companies that Robinhood listed by ticker symbol are phone maker BlackBerry, fashion retailer Express, headphone maker Koss and underwear company Naked Brand Group. "In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK," Robinhood said. It cited "market volatility" as its reasoning and would only allow customers to sell their shares of these companies, not buy or trade in any other way (more below). 28, Robinhood posted a blog saying it was limiting users by preventing them from buying stocks from several companies such as GameStop, What happened with Robinhood and GameStop? It's popular among millennials, who make up a majority of its users and can conduct a variety of investments for free. Robinhood is an investing app that launched in 2015. ![]() Watch this: What does GameStop's skyrocketing stock have to do with a subreddit?
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