Robinhood said it will now allow “limited buys” on restricted stocks, including GameStop, AMC, BlackBerry, Nokia and other stocks that had been restricted on Thursday.
- “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 did not explain how limited purchases will be available.
The company told The Verge that the “recent volatility” in the market — spurred after a Reddit page pushed people to buy the stock — was the reason for blocking the access to people
“We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK. We also raised margin requirements for certain securities.”