Free-stock trading app Robinhood has restricted trading in GameStop (GME) and other stocks as their prices face anomaly shy-high volatility surge.
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In an official blog post, Robinhood says it has also restricted transactions for several securities to position closing only, including:
- American Airlines (AAL);
- AMC Entertainment (AMC);
- BlackBerry (BB);
- Best Buy (BBY);
- Castor Maritime (CTRM);
- Express (EXPR);
- Koss (KOSS);
- Naked Brand Group (NAKD);
- Nokia (NOK);
- Sundial Growers (SNDL);
- Tootsie Roll Industries (TR);
- Trivago (TRVG).
At the same time, Robinhood emphasized its mission remains to be democratizing finance "for all."
"We are proud to have created a platform that has helped everyday people, from all backgrounds, shape their financial futures and invest for the long term," the company says.
As iHodl reported, Robinhood is planning to go public as early as the first quarter of 2021. The company has already contacted several banks to pitch for roles in an IPO.
In September 2020, the millennials' favorite investing platform raised an additional $460 million in a Series G funding round with a total valuation of $11.7 billion. The company's spokeswoman said the investments came from new and existing investors in Robinhood, including Andreessen Horowitz, D1 Capital Partners, DST Global and others.
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