Robinhood, Other Brokerages Restrict Trading on GameStop, AMC Amid Frenetic Trading – WSJ

Popular online brokerages including Robinhood Markets Inc. and Interactive Brokers Group Inc. have restricted access to trading highflying stocks including GameStop Corp. and AMC Entertainment Holdings Inc., citing recent volatility in the markets.

Both brokerages said Thursday morning that they were restricting trading for certain securities. Robinhood said in a blog post that transactions for certain securities, including eight stock-tickers that it listed, were restricted to “position closing only.” Users reported seeing messages that they could close out their positions in some stocks but couldn’t buy more shares of the companies.

The list from Robinhood included GameStop, AMC, BlackBerry Ltd. , Bed Bath & Beyond Inc., Express Inc. and Nokia Corp. Headphone-maker Koss Corp. and Naked Brand Group Ltd. , an apparel company, were also included on the list.

Interactive Brokers also tweeted Thursday that options trading for companies including AMC, BlackBerry, Express, GameStop and Koss, would be limited to liquidations, or closing out positions. The brokerage cited “extraordinary volatility in the markets.”

“We do not believe this situation will subside until the exchanges and regulators halt or put certain symbols into liquidation only,” Interactive Brokers said in another tweet, noting that it may add or remove other stocks as warranted.

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