UK markets closed
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • FTSE 250

    20,961.31
    -334.92 (-1.57%)
     
  • AIM

    1,163.26
    -10.13 (-0.86%)
     
  • GBP/EUR

    1.1617
    +0.0020 (+0.17%)
     
  • GBP/USD

    1.3827
    -0.0067 (-0.48%)
     
  • BTC-GBP

    35,230.64
    +903.86 (+2.63%)
     
  • CMC Crypto 200

    982.93
    +39.75 (+4.21%)
     
  • S&P 500

    3,841.94
    +73.47 (+1.95%)
     
  • DOW

    31,496.30
    +572.16 (+1.85%)
     
  • CRUDE OIL

    66.28
    +2.45 (+3.84%)
     
  • GOLD FUTURES

    1,698.20
    -2.50 (-0.15%)
     
  • NIKKEI 225

    28,864.32
    -65.78 (-0.23%)
     
  • HANG SENG

    29,098.29
    -138.50 (-0.47%)
     
  • DAX

    13,920.69
    -135.65 (-0.97%)
     
  • CAC 40

    5,782.65
    -48.00 (-0.82%)
     

Robinhood raises trading limit on five companies

·1-min read
FILE PHOTO: Trading information for GameStop is displayed on the Robinhood App as another screen displays the Robinhood logo

(Reuters) - Online trading platform Robinhood said on Tuesday it had raised trading limits on stocks of five companies, including GameStop Corp and AMC Entertainment Holdings Inc.

The trading limit on GameStop shares was increased to 100 from 20, while restrictions on Express Inc, Naked Brand Group Ltd and Nokia were also eased, according to an update on Robinhood's website.

The online broker, one of the hottest venues in last week’s retail-trading frenzy, had put temporary buying restrictions on a small number of securities as clearing house-mandated deposit requirements for equities increased ten-fold.

The move had drawn the ire of retail investors who were pouring money into certain stocks that were being heavily shorted by hedge funds following calls by Reddit thread WallStreetBets.

However, Robinhood still recorded more downloads than any other U.S. trading app last week, according to market research data providers.

(Reporting by Niket Nishant in Bengaluru; Editing by Aditya Soni)