Robinhood will allow ‘limited buys’ of stocks like GameStop starting Friday
Robinhood has announced that, beginning on Friday, January 29th, it will allow “limited buys” on restricted stocks, potentially signaling the end of a brutal day-long hold on GameStop, AMC, BlackBerry, Nokia, and other stocks.
“Starting tomorrow, we plan to allow limited buys of these securities,” the company said in a blog post. “We’ll continue to monitor the situation and may make adjustments as needed.” The company’s statement does not elaborate on how limited purchases will be for GameStop and the other restricted stocks.
On Thursday morning, Robinhood restricted purchases of GameStop and the other stocks, which had been driven to unusually high prices by coordinated activity on the…