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Robinhood Stops Purchases Of GameStop, AMC

Robinhood has banned the purchase, yes that right, banned the buying of selected stocks. Robinhood’s official blog post was updated minutes ago to inform users of the app that the following securities can no longer be purchased but only sold:

  • AAL (American Airlines)
  • AMC (AMC Theaters)
  • BB (Blackberry)
  • BBY (Bed, Bath and Beyond)
  • CTRM (Castor Maritime)
  • EXPR (Express, Inc.)
  • GME (GameStop)
  • KOSS (KOSS Corporation)
  • NAKD (Naked Brand Group Limited)
  • NOK (Nokia)
  • SNDL (Sundial Growers)
  • TR (Tootsie Roll Industries)
  • TRVG (Trivago)

In an unprecedented move of market manipulation by brokerages, CNBC, financial media and RH – to stem the losses of certain hedge funds before their options expire tomorrow. By only allowing the trades of their retail investors to be sold – hedge funds and HFT (high frequency traders) are able to manipulate prices.

GameStop hit another record high of $469.42.