Robinhood bans buying GameStop, AMC and other Reddit darlings

(CNN) Fallout from Wednesday’s Wall Street fiasco continues.

The free-trading app Robinhood has banned Gamestop, AMC, and other stocks targeted by Reddit traders.

The moves comes after a group of amateur investors organized on the website Reddit.

Traders increased shares of GameStop nearly 2,500 percent this month alone.

AMC and other stocks targeted by Reddit traders also increased dramatically.

The Reddit crew reportedly rallied certain stocks to pushback against the Wall Street establishment.

But now, Robinhood says it will only allow users to close out their positions in those stocks, which include Best Buy, Bed Bath & Beyond, and Nokia.

Following Robinhood’s announcement, shares of GameStop lost all of their pre-market gains and took a nosedive.

Lawmakers on both sides of the aisle say Robinhood’s decision is unacceptable.

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