Robinhood has announced that, beginning Friday, it will allow ‘limited buys’ on restricted stocks, potentially signalling the end of a brutal day-long hold on Gamestop, AMC 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.”
On Thursday morning, Robinhood restricted purchases of Gamestop, AMC, Blackberry, and a raft of other stocks that had been driven to unusually high prices by coordinated activity on the /r/wallstreetbets subreddit. The decision to restrict purchases provoked a significant backilash, and several law-makers have called for the company to be investigated in the wake of the…