The online trading platform Robinhood limited the purchase of a number of stocks early Monday. Among them are GameStop and AMC.
Robinhood posted an alert shortly after midnight on Monday, February 1 notifying users that they were limiting trading on a number of stocks, including the brick-and-mortar video game retailer and the movie theater chain.
“The table below shows the maximum number of shares and options contracts to which you can increase your positions. Please note that these are aggregate limits for each security and not per-order limits, and include shares and options contracts that you already hold. These limits may be subject to change throughout the day,” Robinhood said.
| Symbol | Shares | Options contracts |
| AMC | 10 | 10 |
| BB | 700 | 700 |
| EXPR | 20 | 20 |
| GME | 1 | 5 |
| GNUS | 600 | 600 |
| KOSS | 2 | N/A |
| NAKD | 600 | N/A |
| NOK | 2000 | 1000 |
“If you already hold a greater number of shares or contracts than the limits listed above, your positions will not be sold or closed. However, you will not be able to open more positions of each of these securities unless you sell enough of your holdings such that you are below the respective limit,” the company added.
Robinhood froze trading of GameStop and AMC last Thursday. Both stocks took a hit after trading was halted but recovered some of that day’s losses shortly after it was announced that trading would resume on Friday.
The information in this article is provided purely for informational and entertainment purposes only. Speak to a financial professional for stock trading tips and financial advice.
