Robinhood, TD Ameritrade restrict buying of GameStop, AMC stock – shorters continue game, killing pumpers. Reps + Dems agree market manipulation. The shorters are big customers and are reloading their short positions.

GameStop’s stock has continued to make big moves, briefly crossing $450 a share on Thursday, fueled by Reddit users collectively taking on the Wall Street establishment. But individual investors looking to make trades have faced multiple issues on trading sites and apps over recent days, with many experiencing service disruptions, according to Bloomberg. The frenzy over GameStop stock has led to TD Ameritrade restricting certain trades, while Robinhood froze any new purchases of particular stocks (GameStop and AMC, among others). It also led to the Wall Street Bets subreddit temporarily getting locked and a Discord server getting shut down for violating terms of service. Watch this: What does GameStop’s skyrocketing stock have to do with…10:15On Thursday morning, Twitter users began posting screenshots of their Robinhood app that showed a message appended to the stocks of GameStop, AMC, Nokia and Bed, Bath and Beyond: “This stock is not supported on Robinhood.”Editors’ top picksSubscribe to CNET Now for the day’s most interesting reviews, news stories and videos.Yes, I also want to receive the CNET Insider newsletter, keeping me up to date with all things CNET.By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.Robinhood explained the move in a blog post Thursday morning, just before the stock exchanges opened: “In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK.”The @wsbmod Twitter account (which is tied to the Wall Street Bets subreddit community driving recent trades), responded in a tweet: “Individual investors are being stripped of their ability to trade on [the Robinhood app]. Meanwhile, hedge funds and institutional investors can continue to trade as normal.”

Source: Robinhood, TD Ameritrade restrict trading of GameStop, AMC stock – CNET

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