Robinhood raises trading limit on GameStop further to 20 shares

Investing News

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.

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