How Robinhood slims restricted list to 8 stocks | Users can still only buy one share of GameStop

 Robinhood is narrowing its list of restricted stocks, but will still impose limits on buying shares of heavily shorted GameStop Corp. and AMC Entertainment Holdings Inc. when trading opens Monday. Hmm... Why is Robinhood narrowing their list? Is it because of all the lawsuits? 

On Robinhood website, the online brokerage on Sunday adjusted its list of restricted stocks from 50 to eight: GameStop GME, +67.87%, AMC AMC, +53.65%, BlackBerry Ltd. BB, -3.75%, Express Inc. EXPR, +27.66%, Genius Brands International Inc. GNUS, -9.64%, Koss Corp. KOSS, +52.53%, Naked Brand Group NAKD, +18.71% and Nokia Corp. NOK, -2.77%.

Per the limits, Robinhood users can only buy one share of GameStop (and up to five options contracts), and up to 10 of AMC (and 10 options contracts).

"Please note that these are aggregate limits for each security and not per-order limits, and include shares and options contracts that you already hold," Robinhood said. "These limits may be subject to change throughout the day."

"Please note that these are aggregate limits for each security and not per-order limits, and include shares and options contracts that you already hold," Robinhood said. "These limits may be subject to change throughout the day."  

GameStop shares rose more than 400% last week and are up more than 1,600% this year following an effort by us peasant online traders, and encouraged on Reddit message boards, to upend greedy short sellers. AMC shares jump 280% last week, and are up 525% year to date. Look at the chart below.