October 27, 2021

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Robinhood blocks new purchases of GameStop stock – MarketWatch

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Robinhood, the online trading application, is preventing users from making new purchases of several stocks, including GameStop Corp. GME, which have surged in value in recent weeks even as professional investors continue to hold large short positions in those securities, the company said in a blog post Thursday.

“We continuously monitor the markets and make changes where necessary,” the statement reads. “In light of recent volatility, we are restricting transactions for certain securities to position closing only.”

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