Robinhood Reduced the Number of Companies with Transaction Limits

The trading platform has reduced the number of companies with transaction limits.

Robinhood reduced the number of companies with transaction limits to. The trading platform reduced the number of 50 companies on which transaction restrictions were applied to 8. AMC Entertainment, GameStop, BlackBerry, Genius Brands International, Express, Koss Corp., Nokia Oyj. and Naked Brand Group were among the shares where the transaction restriction was relaxed. On Robinhood's website, it was stated that opening new positions on the said stocks would be "limited". Investors who currently own shares above this limit will not be able to sell shares. Last week, Robinhood prevented the trading of some shares, especially GameStop, by claiming that there was manipulation in the market. Thus, it prevented the sharp rise in stocks. Thereupon, users also reacted by suing the Robinhood platform. Vlad Tenev, CEO of the trading platform Robinhood, stated that investors do not want to prevent the purchase of shares, and that the news that they were directed by some market makers to restrict the trading of GameStop and other shares was false.