Breaking: Robinhood removes restrictions on purchasing stocks, Gamestop (GME) up 50%!

Robinhood has removed all restrictions on purchasing stocks saying "There are currently no temporary limits to increasing your positions". Robinhood had put in place restrictions as the retail-driven frenzy in Gamestop (GME) meme stocks had led to a number of broker restrictions and garnered SEC attention.

Market reaction

Shares in Gamestop (GME) are strong on Friday currently at $82.77 at the time of writing, an increase of 55% on the day. Related stocks AMC, BB, EXPR and other retail interest names are all trading higher on Friday. Gamestop shares have been under pressure on Wednesday and Thursday as the short interest drops and new short positions compete with the retail-led buyers. 

See also: Gamestop latest news

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