On Thursday, the business stopped users’ ability to purchase stocks that were associated with r/WallStreetBets, consisting of GameStop, AMC, and Nokia, however the company guaranteed that users would be able to buy limited amounts on Friday.

When trading opened previously today, users were restricted to owning 5 shares of GameStop in aggregate, implying they could just own up to five– if they currently had three GameStop stocks, they could just buy 2 more– however even that constraint hasn’t lasted. Quickly, the number of shares you could buy in GME dropped to 2 and then finally to a single share. That’s right: you couldn’t buy more than one.

As the day went on, and the markets closed, the variety of limited stocks kept increasing, from 13 to 23 to over 50 at the time you read these words.

Here’s the current set of restrictions, according to Robinhood’s assistance page:

The list of Robinhoods restricted stocks

The current list of over 50 limited stocks.

Consisted of in the update are Starbucks, Beyond Meat, and General Motors. There are no longer any companies on the list that you can buy more than five shares for.

Here’s the variation of the chart we originally released:

The chart at 2 PM ET, with smaller limitations and more business.

And here’s what it looked like even earlier today:

A chart showing Robinhood’s stock limits

The limitations chart at 12: 30 PM ET on January 29 th.

While GameStop is the most (in) popular of the Wall Street bets, it’s not the only one, and Robinhood has been broadening the list of which companies are restricted throughout the day. Among the stocks added is AMD, which is presently restricted to simply a single stock also.

To put it extraordinarily merely: purchasing an alternatives contract does not suggest that you really own the stock. It enables the owner of the contract to purchase or sell the stock later on at an agreed-upon cost.

For example, if GameStop is at $343 a share now, and I thought it was going to go up, I might acquire a call choice to purchase it at $400 If the stock reviewed $400, I might then earn money by utilizing my choice to purchase that stock, now worth more, for $400 Those contracts end, and if the stock cost doesn’t increase as high as I expected, I might lose money, which is a situation lots of hedge funds are finding themselves in. (As always, this isn’t financial guidance, and I’m not a financial consultant. This is simply an explainer of the mechanics using arbitrary numbers.)

If you buy a choice, Robinhood might also theoretically offer it out from under you under particular conditions, something it’s cautioned it would do.

In a blog post, Robinhood attempted to validate the decision to stop and after that limitation trading, but, like the restricted stocks, users aren’t purchasing it. The app was review-bombed on Thursday, with lots of users leaving one-star evaluations, complaining that the business wasn’t living up to its objective of “democratizing financing.”

A Robinhood spokesperson pointed The Verge to the aforementioned post, stating that the company has been clear with consumers that it would be keeping an eye on the circumstance and making modifications “as required,” and that the limitations have been labeled as subject to change.

Update January 29 th, 5: 39 PM ET: Included news of the new stocks and limitations Robinhood has actually added to the list.


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