GameStop, AMC Jump as Robinhood Set to Allow Limited Buying on Friday By Investing.com

By Yasin Ebrahim

Investing.com –  GameStop, AMC, Nokia (NYSE:NOK) and a slew of other “meme stocks” backed by retail investors jumped in after-hours trade Thursday, after online trading platform Robinhood said it would lift some trading restrictions on the stocks.

GameStop (NYSE:GME) rose 31% to $259 in after-hours trade after closing down 43%. AMC Entertainment (NYSE:AMC) 21% to $10.56 after falling 56% on the day. Nokia ended the day down 13.25%, Naked Brand Group Ltd (NASDAQ:NAKD) rose 6% in after-hours trade, while Express Inc (NYSE:EXPR)11% and Blackberry (TSX:BB) rose 8%.

“Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed,” Robinhood said in a statement.