Robinhood to reopen GameStop buying after $1 billion raise

It’s been a wild week at Robinhood. 

On Thursday, the company announced it will start allowing customers to buy GameStop shares on Friday. 

Robinhood halted buying for several stocks — including GameStop, AMC, BlackBerry, and Nokia — on Wednesday, citing high volatility. Notably, these are the stocks that have gotten in the crosshairs of Reddit investor group r/wallstreetbets, who are buying them en masse and betting against massive hedge funds that have been relentlessly shorting (selling in anticipation of buying cheaper later) these stocks in recent months and years (read the whole saga here).  Read more…

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