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  • shares of Gamestop resumed their torrid rally at one point more than doubling in price on Friday after online broker Robin Hood partially lifted a controversial trading restriction.

  • Robin Hood's reversal Friday once again unleashed an army of small investors behind this week's dramatic squeeze on Wall Street hedge funds seen as a showdown between so called amateur investors and Wall Street professionals.

  • The trading APP said on its website that it was easing the restrictions but still would not allow investors to purchase fractional shares in Gamestop and the other stocks caught up in the recent trading frenzy, which means small investors will have to put up more money if they want to buy any of those stocks.

  • Thursday's clampdown, which Robin Hood said it made to protect the company and its customers from volatility, angered its users, some of whom staged a small protest outside company headquarters in California.

  • But hordes mawr turned toe Wall Street bets to express their outrage.

  • That's the anonymous, nearly six million member Reddit Forum, largely seen as sparking the rally in Gamestop and the other stocks.

  • 31 year old Colin McClelland is one of those who jumped on the Gamestop bandwagon and cried foul at Robin Hood's restrictions.

  • You know, when the big man, when the quote unquote suits don't get their way and they start losing, they just shut down the game and change the rules.

  • I think it's extremely unfair, and SEC is put in place to protect the little man from things like this happening.

  • So hopefully you know, regulators and politicians were taking a strong look at this, and they get down to the bottom of it.

  • Officials are Paying attention.

  • The Securities and Exchange Commission issued a warning Friday to both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.

  • The trading surge is taking its toll on the Robin Hood platform, which was already one of the more popular APs for small investors.

  • It reportedly had to raise more than a billion dollars from existing investors and tap a credit line so that it has the funds to ensure trades could go through without a hiccup.

shares of Gamestop resumed their torrid rally at one point more than doubling in price on Friday after online broker Robin Hood partially lifted a controversial trading restriction.

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GameStop soars as Robinhood lifts restrictions

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    林宜悉 posted on 2021/01/30
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