Robinhood is now restricting trading on 50 stocks and is still limiting users to one share of GameStop
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The brokerage app Robinhood implemented additional stock-trading restrictions on Friday evening, expanding limits to cover 50 companies, CNBC reported.
New companies added to the list include Aurora Cannabis (ACB), Churchill Capital (CIV), General Motors (GM), Starbucks (SBUX), and several financial, pharmaceutical, and energy companies, according to CNBC.
Earlier on Friday, Robinhood had limited the number of GameStop stocks that traders can buy, according to its website. The Wall Street Journal reported theA Robinhood spokesperson confirmed the new restrictions in an email to Insider.
The move came after Robinhood said on Thursday it restricted transactions for some stocks, including GameStop, to comply with "financial requirements" in the wake of a buying frenzy drummed up by a group of Redditors.Robinhood said on Friday it had raised $1 billion in emergency investment to handle the surge in trading on its platform.
News surfaced on Friday that Robinhood was on the hunt for a new federal-affairs manager in Washington, DC. The job posting was created after both Democratic and Republican lawmakers called for hearings when the app shut down temporarily on Thursday.Copyright © 2021. Times Internet Limited. All rights reserved.For reprint rights. Times Syndication Service.
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