Robinhood says it’s experiencing a ‘system-wide outage’ as markets rebound in heavy volume Monday
Robinhood, the free-trading pioneer favored by younger traders, said it was experiencing an outage on Monday.
“We are experiencing a system-wide outage. We are working to resolve this issue as soon as possible,” the company said in a message to clients on Monday.
The technical problems come amid a rebound from the worst week for stocks since the financial crisis fueled by investor panic surrounding the fast-spreading coronavirus. All three major averages traded higher on Monday, after closing in correction territory last week, down at least 10% from their most recent high. The Dow Jones Industrial Average traded 100 points higher in morning trading on Monday. The S&P 500 and Nasdaq also rose.
The Silicon-Valley start-up, which doesn’t charge commissions for stock trades, is primarily used by a millennial audience.
Reported by CNBC