The Robinhood app restricted the transactions of GameStop, AMC, Blackberry.

The #Robinhood app restricted the transactions of #GameStop#AMC#Blackberry and more following the massive purchase of shares originating from #Reddit. Shares of the three companies are trading lower, with significant declines at the beginning of January 28. It seems that Robinhood, the application that mainly uses the miles of members of the subreddit in question, has prohibited the possibility of buying shares of the mentioned companies, due to the volatility of the market. User response: In less than an hour the app has received more than 100,000 one-star reviews, now they average 1.1 stars on the Play Store.

In the words of Robinhood:

“We continually monitor the markets and make changes when necessary. In light of recent volatility, we restrict transactions in certain securities to closing positions only.”

“We are committed to helping our clients overcome this uncertainty. We fundamentally believe that everyone should have access to financial markets. We are honored to have helped so many people to invest in the markets for the first time.”

What do you think?

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