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Robinhood narrowed its stock 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 option contracts of AMC, 700 shares and 700 option contracts of BlackBerry, 20 shares and 20 option contracts of Express Inc., 1 share and 5 option contracts of GameStop, 600 shares and 600 Option contracts from Genius Brands International, 2 shares of Koss Corp., 600 shares of Naked Brands Group and 2,000 shares and 1000 option contracts of Nokia Corp.
Photo courtesy of Robinhood
The new restrictions, which are compound limits for each security and not per order, include shares and option contracts that an investor already holds. These limits can be changed throughout the day.
Robninhood notes that investors who already own a larger number of shares or contracts than the limits above will not sell or close their positions. However, they will not be able to open any more positions of the securities unless they sell enough of their shares to be below the respective limit.
Investors will also not be able to open new fractional shares, but will be able to open new positions of whole shares according to the limits. Recurring investments for the listed bonds will also be skipped until the restrictions are lifted.
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