Discord bans WallStreetBets as subreddit briefly goes private [Updated]

Enlarge / Investors in GameStop and AMC briefly saw red as the WallStreetBets subreddit went private... (credit: StockSnap)

Update (Jan. 28, 9:30a.m. Eastern)

The Robinhood app, which allows retail investors to buy and sell stocks with no commission fees, has restricted purchases for a number of highly volatile stocks, including GameStop and AMC. Robinhood users can still sell their current positions in those stocks, but can no longer buy additional shares.

In a statement, Robinhood said the move was made "in light of recent volatility" and that "we're committed to helping our customers navigate this uncertainty. We fundamentally believe that everyone should have access to financial markets." The statement contains no details on how this restriction helps fulfill that "fundamental" goal.

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