Robinhood users can no longer enter new GameStop Corp. and AMC Entertainment Holdings Inc positions.
Screenshots from Robinhood users on Reddit and Twitter confirm GameStop’s stock is “not supported on Robinhood.” The commission-free broker is warning customers the platform will only handle orders to “close out your position.” Customers are banned from purchasing additional shares.
No prior warning or notification was provided by Robinhood to users before today’s market open.
Shares of GameStop continued their mind-boggling surge higher Thursday morning as it hit the $500 per share mark in the premarket trading session. AMC shares were trading in the opposite direction as it was down around 20%.
Some users on Twitter are reporting other tickers can’t be traded, such as American Airlines Group Inc, BlackBerry Ltd, Naked Brand Group Ltd, among others.
I strongly encourage users of Robinhood to switch to another online brokerage, such as Webull.
Are you on Robinhood and unable to make trades?
Here is some helpful information from Reddit user Bit-Training
Click Here to file a complaint with the SEC.
Click Here to file a complaint wit with FINRA.
Click Here to file a complaint with Robinhood directly.
Robinhood Financial LLC 85 Willow Road Menlo Park, CA 94025 United States
This morning I, and millions of other retail investors, were blocked from purchasing (entering new buy orders) on the Robinhood platform, without notice. This clear example of market manipulation has forced the stock down from over $500 in after-hours to less than $300 as of this writing. Meanwhile, hedge fund interests are NOT blocked from buying the shares being traded and the lower price obviously benefits them.
We retail investors have followed all the rules and finally stood to gain a LITTLE bit from Wall St and they suddenly change the rules “to protect” us. I am requesting you use your subpoena power and regulatory authority to examine whether Robinhood colluded illegally with any other actors who may have held short positions on these stocks to reduce the number of buyers for $GME and therefore deflate the price. This is market manipulation.
GIVE ROBINHOOD APP A 1-STAR REVIEW RIGHT NOW!