After plunging 44 percent on Thursday, shares of GameStop are soaring in after-hours trading
Robinhood announced that it would once again allow customers to buy GameStop and other stocks that have seen meteoric rises this week.
Amid this week’s extraordinary circumstances in the market, we made a tough decision today to temporarily limit buying for certain securities. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.
Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed.
Shares of Koss, the headphone maker whose shares are up 1,104 percent this week, dropped 27.66 percent on Thursday and have climbed by the same percentage in trading following the closing bell.