(Reuters) – Online brokerage app Robinhood said on Thursday it has removed temporary trading restrictions on all stocks, including GameStop Corp and AMC Entertainment Holdings Inc, according to an update on its website.
Earlier in the day, Robinhood’s website showed that the trading limit on GameStop’s shares was set at 500, while for AMC the limit was set at 5,500 shares. (https://bit.ly/3cJzNmm)
Trading restrictions on a few other stocks had been lifted on Wednesday.
The online broker, one of the hottest venues in last week’s retail-trading frenzy, had put temporary buying restrictions on a number of securities including Nokia, Express Inc , as clearing house-mandated deposit requirements for equities increased ten-fold.
GameStop’s shares and others favored recently by retail investors fell further on Thursday, while U.S. Treasury Secretary Janet Yellen vowed to protect investors, but also said financial market regulators needed to fully understand the recent trading frenzy before taking any action.
(Reporting by Juby Babu in Bengaluru; Editing by Shounak Dasgupta)