Robinhood increases the trading limit on GameStop stocks to 4 from 1

Robinhood began to ease trading restrictions on Monday, raising its trading limit on GameStop to four shares from a single share.

The removal of restrictions comes amid another injection of cash for the pioneer of free stock trading.

The brokerage also raised the limits on AMC Entertainment, Express, Koss and a few of the other eight restricted stocks. Here are the new restrictions.

Amid an increase in the capital requirements of the SEC and the Depository Trust & Clearing Corporation, Robinhood imposed restrictions on some stocks and options amid a spree of retail investing in heavily bypassed names last week. Reddit-obsessed traders have upped GameStop stock by over 400% in an attempt to crush the hedge fund’s shorting.

However, as GameStop’s stock grew, regulators increased the amount Robinhood had to deposit in its clearinghouses in case trades caused heavy losses. JMP Securities estimated that requirements increased from $ 7.5 billion to $ 33.5 billion.

The shortlist tells clients how many stocks and option contracts they can buy on a particular security and Robinhood appears to be waiving some of its limits. Robinhood customers can now purchase 4 GameStop shares instead of just one.

GameStop shares lost 17% for the last time after losing more than a third of their value. Robinhood customers who own more than four GameStop shares cannot purchase new shares.

Clients can buy 75 shares of AMC, more than the previous restriction of only 10 shares. Robinhood clients can now buy 200 shares of Express, up from the previous cap of 20 shares. However, if a customer has more than 200 shares of Express, they can no longer buy shares of the distressed retailer.

Nokia and Blackberry trading limits have remained the same.

Robinhood’s policy change comes as the free stock pioneer raised an additional $ 2.4 billion from investors to support record growth in its client base, the company said in a blog post on Monday. This is in addition to the billion dollars raised last week to shore up Robinhood’s balance sheet in anticipation of rampant speculative trade. The company also tapped lines of credit for more funds.

The new round of funding was led by Ribbit Capital, as well as existing investors ICONIQ, Andreessen Horowitz, Sequoia, Index Ventures and NEA, Robinhood said.