Robinhood to restore GameStop trading as it wins $1bn backing

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The app helping to fuel share-buying frenzy is to resume ‘limited buys’ after investor cash injection

Robinhood, the app favoured by small investors who have sent the share price of certain stocks soaring, is to restore trading in companies including GameStop after securing a $1bn (£730m) injection from backers to handle the market frenzy.

The decision to resume what Robinhood said would be “limited buys” of stocks such as American Airlines and AMC, the world’s largest movie theatre chain and the owner of Odeon in the UK, sent GameStop’s stock up 99% to $389 a share in pre-market trading on Friday.

Continue reading… Source: The Guardian

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