Reddit favorites are spiking in response.
Shares of GameStop, AMC, Koss, and other Reddit favorites skyrocketed Friday morning after Robinhood announced it would lift trading restrictions in popular Reddit stocks.
Friday s premarket gains erased some of the heavy losses for the stocks that came after Robinhood and other trading apps placed certain restrictions on trading in popular stocks found on the
WallStreetBets Reddit forum.
In a statement Thursday afternoon, Robinhood said they were forced to restrict trading amid this week s extraordinary circumstances because as a brokerage firm, they have many financial requirements, including SEC net capital obligations and clearinghouse deposits.
Elon Musk accuses Discord of going corporate after it bans Reddit group that is boosting Gamestop stock
WallStreetBets – a community of young retail investors - was purged from messaging service Discord after they were tied to price surges on Wednesday
Musk tweeted: Even Discord has gone corpo…
WallStreetBets Reddit page has seen millions of new members arriving in recent days after Musk posted a link to the group on Twitter, writing: Gamestonk!!
But such are the fears over the viral investing, Joe Biden s White House staff are monitoring the situation - as is the Securities and Exchange Commission