GameStop stock prices are going back. This is after Robinhood and many other trading platforms restricted trade after finding out what reddit was doing. If you missed GameStop hasn’t been doing well and investors were selling stock to make a quick buck. They didn’t count on Reddit gamers to buy up stock causing GameStop to get a boost. Well this didn’t sit well with many on wall street including hedge fund managers and trading platforms. The owner of Robinhood explains why he did what he did.
“The stock price of GameStop and other “meme stocks” jumped overnight after Robinhood and other stock trading platforms announced they would resume “limited” trading of certain restricted stops today. As of press time, GameStop’s stock price is nearing $350 a share, all but erasing the massive drop in price during yesterday’s tumultuous day on Wall Street. GameStop and other “hot” stocks chosen by retail investors on the Reddit board /r/WallStreetBets all received price bumps overnight after Robinhood, a commission-free trading app, announced that it would allow for “restricted” purchases of stocks it had previously de-listed due to market volatility. AMC, another stock popular with individual investors, saw its price jump by 40% overnight after an equally rough day on Wall Street.”
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