Robinhood, a US-based stock trading service, announced Thursday that it has lifted time limits on stocks for all companies, including GameStop Corp and AMC Entertainment Holdings, whose stocks enjoyed unprecedented demand last month.
Earlier in the day, the Robinhood website indicated that the limit on GameStop stock trading is set at 500 units per hand, while the limit for AMC was set at around 5,500 shares. Restrictions on trading in shares of other companies were lifted on Wednesday.
Prior to that, Robinhood imposed temporary restrictions on the purchase of securities of a number of companies, including GameStop, AMC, BlackBerry, Nokia, Express Inc., as the clearing center requirements for the deposit for shares increased tenfold. In connection with the active purchase of shares of these companies by private investors, they rose sharply in price, and large hedge funds, which relied on their decline, suffered significant losses.
Last Thursday, shares of GameStop and other companies that have been popular with retail investors lately continued to fall in value. In turn, US Treasury Secretary Janet Yellen (Janet Yellen), who promised to protect investors, said that financial market regulators need to first understand the reasons for the recent hype around stocks before taking any action.
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