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Financial system4 hours ago (Feb 02, 2021 11: 55AM ET)


© Reuters. FILE PHOTO: Trading records for GameStop is displayed on the Robinhood App as one more display displays the Robinhood imprint

(Reuters) -Online buying and selling platform Robinhood said on Tuesday it had raised buying and selling limits on shares of 5 companies, in conjunction with GameStop Corp (NYSE:) and AMC Leisure (NYSE:) Holdings Inc.

The buying and selling limit on GameStop shares used to be elevated to 100 from 20, whereas restrictions on Categorical Inc, Bare Note Crew Ltd and Nokia (NYSE:) had been also eased, per an substitute on Robinhood’s web page.

The safe dealer, certainly one of the foremost freshest venues in final week’s retail-buying and selling frenzy, had build non permanent buying restrictions on a diminutive quantity of securities as clearing home-mandated deposit requirements for equities elevated ten-fold.

The skedaddle had drawn the ire of retail merchants who had been pouring cash into definite shares that had been being heavily shorted by hedge funds following calls by Reddit thread WallStreetBets.

On the opposite hand, Robinhood serene recorded extra downloads than any other U.S. buying and selling app final week, per market look at records suppliers.

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