Webull Follows Robinhood in Blocking GameStop, AMC Trades After Being Suggested as Alternate Trading Platform

With amateur stock traders seeking out alternatives to Robinhood because the popular investment app has blocked users from opening new positions on certain viral stocks, Webull, one of the services floated as an alternative by people on the internet, has followed Robinhood’s lead and blocked users from buying new stocks from three companies, including GameStop and AMC.

Webull tweeted that it wouldn’t allow people to buy GameStop (GME), AMC (AMC) or Koss Corporation (KOSS) stock on Thursday. It cited the increased market volatility as the reason.

Due to the extreme volatility in the symbols AMC, GME, and KOSS, our clearing firm will no longer be able to support clearance on these symbols. As a result, Webull is forced to set all transactions in these symbols to liquidate only.

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— Webull (@WebullGlobal)

“Due to the extreme volatility in the symbols AMC, GME, and KOSS, our clearing firm will no longer be able to support clearance on these symbols. As a result, Webull is forced to set all transactions in these symbols to liquidate only,” the company wrote in a tweet.

As is the case with users on Robinhood, for the moment, Webull users who already own shares in these companies can only sell their shares.

GameStop Webull Stock Market reddit

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