Robinhood Will Let You Buy Only 1 Share of GameStop
Online trading app Robinhood received tremendous blowback from investors last week after blocking purchases of GameStop (NYSE: GME) stock. While it said traders could sell their shares, Robinhood wouldn't let anyone buy the stock.
Although it eventually relented, the trading app has announced it is issuing new rules because of the market volatility, and it will let you buy only one share of GameStop's stock.
In what will surely anger traders further, the limit is an aggregate total, not per-order. That means if you already own one or more shares of GameStop, you cannot buy any more. It also limits traders to owning just five option contracts. It won't sell any stock or contracts you own in excess of the limit, but it won't let you buy more.
Source Fool.com
