Robinhood restricts buying of fractional shares in GameStop, other hot stocks

FILE PHOTO: GameStop gift cards are shown for sale at a GameStop Inc. store in Encinitas, California

(Reuters) – Online brokerage Robinhood said on Friday it was not allowing purchases of parts of shares in GameStop and other stocks, a practice that has encouraged smaller investors by reducing the size of the amount they have to bet.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shinjini Ganguli)