The Robinhood stock trading app raised
The no-fee trading app said it would reopen some trading Friday after also drawing on a
"By drawing on our credit lines, which we do all the time as part of normal day to day operations, we get more capital that we can deposit with the clearing houses and that will allow us to enable ideally more investing with fewer restrictions," Robinhood CEO
Users through Robinhood drove up stock prices for
The company said it had to put up collateral to cover volatility as stocks for
The restrictions allowed users to sell shares, but not buy new ones. Robinhood said it limited trading because it wasn't able to meet legal deposit requirements that it projected from the abrupt spike in transactions.
Stock for
Shares of
Robinhood, a private company, was fined
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