Robinhood raises trading limit on GameStop further to 20 shares
The logo of trading app Robinhood is displayed on a smartphone.
Olivier Douliery | AFP via Getty Images
This is a developing story. Check back for updates.
Robinhood started easing trading restrictions on Monday, raising its trading limit on GameStop to four shares from a single share.
The brokerage also raised the limits on AMC Entertainment, Express and a few of the other eight restricted stocks. Here are the new restrictions.
Robinhood restricts trade on certain shares
Source: Robinhood
Amid an increase in capital requirements from the SEC and the Depository Trust & Clearing Corporation, Robinhood put restrictions on certain stocks and options amid a retail investing frenzy in heavily shorted names last week. Reddit-obsessed traders drove GameStop’s stock up more than 400% in an effort to crush the hedge fund’s shorting the name.
GameStop shares were last down 17% after losing more than a third of their value.
The restricted list tells clients how many shares and options contracts they can buy pertaining to a particular security and Robinhood appears to be rolling back some of its limitations. Now, Robinhood clients can buy 4 shares, instead of just one. Clients can buy 75 shares of AMC, higher than the earlier restriction of just 10 shares.
