Robinhood customers say platform has taken down GameStop and AMC and only allows holders to sell

• Robinhood removed GameStop, AMC, BlackBerry and Nokia from its trading platform before the market opened on Thursday.
• The brokerage told clients that they can still close positions in volatile stocks, but cannot buy more stocks.
• The move comes after traders fury on the Reddit forums over stocks in unprecedented short squeeze.
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Robinhood pulled GameStop, AMC, BlackBerry and Nokia from its trading platform on Thursday, leaving investors unable to buy the highly volatile stocks.

The discount brokerage has informed its clients that it can close positions in the affected stocks but cannot purchase additional stocks, according to numerous screenshots shared on Twitter. This decision came before the markets opened on Thursday.

The stocks that were removed have all risen in recent trading sessions, as day traders banded together on Reddit forums like WallStreetBets frantically buying names to drive their stock prices up. The phenomenon has already fueled massive losses for many hedge funds and caught the attention of regulators and the White House.

Robinhood did not respond to a request for comment.

Robinhood’s move follows similar freezes imposed by Charles Schwab and TD Ameritrade on Wednesday. Extraordinary trading volumes have also caused service disruptions at several brokerage houses, as investors rush to heavily shorted stocks.

Check back soon for updates.

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