Robinhood users can no longer enter new GameStop Corp. and AMC Entertainment Holdings Inc positions.
What Happened: Screenshots from Robinhood users 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.
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%.