GME, AMC Suddenly Panic-Bid As Robinhood Lifts Trading Restrictions

GME, AMC Suddenly Panic-Bid As Robinhood Lifts Trading Restrictions

Stock trading app Robinhood removed temporary trading restrictions on all stocks including GameStop and AMC Entertainment after a tumultuous week for markets.

The company issued an update on its website late on Thursday, saying:

“There are currently no temporary limits to increasing your positions.”

And that appears to have been enough to enable the buying-panic to resume in these (once) heavily shorted stocks…

GME has been halted twice and is up over 50%…

And AMC has ripped back from deeply red territory…

Earlier in the day, Robinhood users were only able to trade 500 GameStop shares and 5,500 AMC shares, according to Reuters.

Still a long way to go to recover the week’s losses…

And as these ‘most-shorted’ names rally, the broad market is dumped…

Will Micro-cap biotechs get a bid too?

Tyler Durden
Fri, 02/05/2021 – 10:15

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