Here's Why GameStop Stock Plunged Today
GameStop's (NYSE: GME) stock price fell more than 30% on Monday, as Robinhood and other trading platforms limited investors' ability to buy the video game retailer's shares.
Amid volatile trading that drove the prices of GameStop and other heavily shorted stocks up sharply in recent weeks, popular millennial-focused trading platform Robinhood imposed severe restrictions on its users' ability to buy these and other stocks. On Monday, investors were able to buy only 20 shares of GameStop, a total that included any shares they already owned. They could, however, freely sell their shares.
As brokerages imposed trading restrictions, GameStop's stock shed 30% of its value. Image source: Getty Images.
Source Fool.com
