Robinhood Stops Trading Meme Stocks GameStop, AMC As Reddit Rally Begins To Unravel

Popular online brokerage Robinhood has seemingly barred trading of the meme stocks that sparked the mind-blowing Reddit rally in stocks heavily shorted by Wall Street’s elite.

Popular meme stocks are unavailable to trade on the booming retail trading platform.

Key Facts

As of 9:25 a.m. shares of GameStop, AMC and Nokia–all stocks that have climbed more than 300% in recent days–are unavailable to trade, or even search, on Robinhood.

Interactive Brokers has also barred trading of such stocks, CNBC reported.

Shares of GameStop and AMC are tanking 25% and 33%, respectively, Thursday morning.

Robinhood did not immediately return a Forbes request for comment.

This story is developing. Please check back for updates.

This content was originally published here.