Financial services firm E-Trade has restricted stock purchases from GameStop and AMC, a source said Bloomberg. Both stocks became popular on forums like the subreddit r / WallStreetBets and saw their prices skyrocket to unprecedented levels last week. (GameStop reached $ 483 on Thursday and was briefly above that during the day. Last Thursday, the stock closed at $ 43.)
We saw users on Twitter report that they were also unable to buy the shares.
eTrade is also banning the purchase of Gamestop.
– Thomas Wicklund (@tgwicklund) January 28, 2021
Welcome, ETrade wouldn’t let me buy AMC shares online.
– Aramadon (@Arammadon) January 28, 2021
Bloomberg writes that an E-Trade representative declined to comment, and the company did not immediately respond to a request for The Verge.
E-Trade follows other stock trading platforms by imposing restrictions on shares. Robinhood added new limits to his app to restrict the purchase or trading of GameStop, AMC and other stocks that are popular on r / WallStreetBets on Thursday morning. Furious users of Robinhood are now calling for collective action as a result and even made a subreddit focused on creating this process. Competitors from Robinhood Public and WeBull also restricted some transactions for a period on Thursday before lifting the restrictions.