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Robinhood reduced its stock trading restrictions to eight companies on Sunday, including GameStop, Koss Corporation, AMC Entertainment Holdings, Express Inc., Naked Brands Group, Genius Brands International, BlackBerry Limited and Nokia Corp.
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According to the company’s support page, investors will be limited to 10 shares and 10 options contracts from AMC, 700 shares and 700 option contracts from BlackBerry, 20 shares and 20 option contracts from Express Inc., 1 share and 5 GameStop option contacts, 600 shares and 600 option contracts from Genius Brands International, 2 shares from Koss Corp., 600 shares from Naked Brands Group and 2,000 shares and 1000 option contracts from Nokia Corp.
Photo courtesy of Robinhood
The new restrictions, which are aggregate limits for each security and not per-order limits, include shares and option contracts that an investor already holds. These limits may be subject to change throughout the day.
Robninhood notes that investors who already hold more shares or contracts than the limits listed above will not have their positions short or closed. However, they will not be able to open more securities positions unless they sell enough of their holdings to stay below the respective limit.
Investors will also not be able to open new fractional shares, but will be able to open new entire share positions within the limits listed. Recurring investments for listed securities will also be ignored until restrictions are lifted.
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