GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC), two favorite stocks among retail investors, are surging higher Wednesday morning on above-average volume.
Some of the strength can likely be attributed to the overall markets, as stocks are rebounding Wednesday following bouts of weakness related to rising yields and Fed tapering concerns.
Robinhood Markets Inc (NASDAQ:HOOD) released a blog post Tuesday in which the company outlined the steps it's taking to ensure that trading restrictions are not required in the future.
Last year, during the famed short squeeze, Robinhood put buying restrictions on GameStop and AMC, as well as a handful of other companies that were experiencing high levels of volatility.
"We never want our customers to be surprised with trading restrictions again," Robinhood said via blog post.
Robinhood highlighted its net capital position of $2.7 billion, its stronger foundation of compliance and risk infrastructure and the increasing size of its customer support team.
"The retail investing revolution has shown us that a new generation of investors wants their voices to be heard. Our work has only just begun," Robinhood said.
GameStop's average session volume is about 2.9 million over a 100-day period, according to data from Benzinga Pro. Wednesday's trading volume had already exceeded 4 million at publication time. AMC is also experiencing elevated volume levels.
Both stocks are trending across social media platforms. GameStop was the top trending stock on Stocktwits at publication time.
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GME, AMC Price Action: GameStop was up 14.5% at $114.18 and AMC was up 10.7% at $17.74 at time of publication.
Photo: sergeitokmakov from Pixabay.
