Robinhood Markets’ decision to lift trading restrictions on GameStop and AMC Entertainment shares has resulted in their recovery before the conference. The two companies were involved in a dispute between social media-coordinated micro-investors and hedge funds.
Announcing the new measures on its website, Robinhood announced an expansion of restrictive measures the day before. GameStop’s shares have plummeted 84% since the beginning of the week, while AMC’s shares have lost 47% as small investors turn to pharmaceuticals and other smaller companies.
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In pre-conference trading, shares of GameStop rose 14%, while AMC gains 8.9% after lifting the restrictions. They were launched late January as part of a Reddit-organized RedStre Wall Street Bets campaign to halt hedge funds’ wagers on their collapse.
When Robinhood announced its restricted platform, a part of the micro-investor community expressed outrage, stating that the platform was supposed to be a place where hedge funds and institutional investors would be protected. According to the trading application’s management company, to strengthen its capital position, it had to borrow billions of dollars.
Today, an article quoted Vlad Tenev, CEO of Robinhood, saying that this site wasn’t designed for hedge funds but people left out in the market.
GME’s performance over the last year has achieved a return of 183.97%, with its performance over the last seven days just below -72.37%. Over one month, the stock’s price index increased 208.00% and 362.40% over three months. Over the past six months, the stock’s performance saw it score 1055.51% and even higher, 1179.90%, during its 52-week period.
Now let’s talk about AMC Stock. This stock went down -17.84% in the past week and has increased 258.08% in the last month. Over the last quarter, this company’s stock appreciated by 202.99%. The company’s stocks have increased by 70.84% in the last six months and by 1.29% on a full-year basis. During the time of this writing, the stock’s YTD performance was positive at 234.43%.