Robinhood, Trading 212, ETrade, Schwab, and Ameritrade are preventing users from purchasing GameStop stock. Those attempting to buy GME stock are receiving a warning message that reads: “In the interest of mitigating risk for our clients, we have temporarily placed GameStop and AMC Entertainment in reduce-only mode.” Each app has a similarly-worded message. Here’s why users can’t buy GameStop stock and how to buy GME and AMC despite this issue.
Why can’t I buy GameStop stock?
Users can’t buy GameStop stock due to apps blocking purchases “in the interest of mitigating risk for [their] clients.”
At market opening on January 28, multiple platforms announced that they were preventing the purchase of GME stocks. However, users could still sell.
On apps like Robinhood and Trading 212, the “Buy” button became unavailable, preventing anyone from purchasing GME stocks.
AMC was also added to the list, shortly after the stock price climbed to record heights.
How to get GME and AMC
To get GME and AMC, users can make use of apps like Cash App, Fidelity, and eTrade. At the time of writing, these apps still allow users to buy GME and AMC.
Preventing the purchase of stocks is no doubt a temporary measure put in place by Robinhood, Trading 212, Schwab, and Ameritrade. However, it’s not clear when the limit will be lifted.
As expected, preventing users from buying GME and AMC has not gone down well with the community. The Robinhood app has seen thousands of negative reviews left on the Android app.
It’s been a bad week for Robinhood app, as it went down after GameStop (GME) stock skyrocketed to even greater heights. This stopped users buying and selling through the app.
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