{"id":167924,"date":"2021-02-01T15:56:34","date_gmt":"2021-02-01T12:56:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/robinhood-users-are-still-limited-to-one-gamestop-share\/"},"modified":"2021-02-01T15:56:34","modified_gmt":"2021-02-01T12:56:34","slug":"robinhood-users-are-still-limited-to-one-gamestop-share","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/robinhood-users-are-still-limited-to-one-gamestop-share\/","title":{"rendered":"# Robinhood users are still limited to one GameStop share"},"content":{"rendered":"

“# Robinhood users are still limited to one Game<\/a>Stop share <\/strong>”<\/p>\n

Troubled trading app<\/a> Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop (GME) shares.\u00a0<\/p>\n

According to its website<\/a>, Robinhood has lowered its list of restrictions to eight different stocks including GME, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Jan. 29, CNBC reported<\/a>.<\/p>\n

As per the new restrictions, Robinhood users can still only buy one share of GameStop alongside five options contracts. AMC trading is capped at 10 share and options contracts.<\/p>\n

Source: Robinhood<\/em><\/figcaption><\/figure>\n

Robinhood users who already hold a greater number of shares or contracts will have to sell their holdings in order to open more positions, the firm said:<\/p>\n

\u201cIf you already hold a greater number of shares or contracts than the limits listed above, your positions 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 holdings such that you are below the respective limit.\u201d<\/p><\/blockquote>\n

Robinhood has been struggling to maintain its trading services while the r\/Wallstreetbets Reddit<\/a> community pumped stocks like GME to new all-time highs. On Jan. 28, Robinhood suspended GME purchases\u00a0after the stock skyrocketed 1,400% from about $20 on Jan. 12. On Jan. 29, the firm also temporarily disabled instant deposits for cryptocurrency purchases, citing \u201cextraordinary market conditions.\u201d<\/p>\n

The United States\u2019 Securities and Exchange Commission subsequently hinted that it was looking into the Robinhood platform, citing concerns over \u201cextreme price volatility of certain stocks\u2019 trading prices.\u201d<\/p>\n

Robinhood\u2019s decision to halt GME was widely criticized in the trading community, with at least 100,000 negative reviews\u00a0appearing\u00a0on Robinhood\u2019s page on the Google Play Store. Despite Google\u2019s subsequent move to scrap thousands of negative reviews with its \u201cfake review\u201d tracking system, Robinhood app\u2019s rating is still down to one star, with\u00a0294,954<\/a> reviews posted at publishing time.<\/p>\n

Amid the ongoing issues, Robinhood users launched<\/a> the \u201c#robinhoodboycott\u201d tag on Twitter, calling on traders to move their holdings off the platform. However, Robinhood is not the only company experiencing issues due to the GameStop short squeeze. On Jan. 30, online trading platform IG Group Holdings said<\/a> that it will restrict any new positions on GME and AMC due to \u201cextreme volatility\u201d in the market.<\/p>\n