Redditors rejoice! Robinhood is as soon as once more permitting anyone to trade shares of any shares, together with GameStop and AMC, reports CNBC. The corporate had restricted the buying and selling final week of sure scorching shares like GameStop and AMC. The boundaries had been put in place after these shares surged in value because of huge curiosity generated from Reddit customers on the message board WallStreetBets.
Robinhood mentioned the explanation for the restrictions was with a view to conform to sure regulatory necessities involving safety deposits to clearinghouses. Nevertheless, many noticed Robinhood’s restrictions as extra indicators of a rigged market in favor of the large man over the little man. GameStop’s share surge all through January noticed hedge funds lose billions whereas small retail buyers reaped huge rewards.
As of yesterday morning, a lot of Robinhood’s restrictions had been nonetheless in place—although to a lesser diploma. Robinhood merchants had been solely allowed to trade 500 shares of GameStop every, and 5,500 shares of AMC every. Nevertheless, by the top of the day, Robinhood introduced a lifting on all restrictions. As the corporate famous on its web site, “there are at present no short-term limits to growing your positions.”
The query is now, will Redditors come again to Robinhood? Or has Robinhood’s actions left Redditors feeling too burned? Solely time will inform (and, maybe, the path of GameStop’s share value as we speak).