Before I start, I am obliged to remind our viewers that this is not advice only general commentary from my extensive research in this area.

The popular Trading platform Robinhood experienced an unfortunate day-long system wide outage, leaving users unable to log on or conduct a trade on Monday. Robinhood had released a statement at 11:30 EST, that they had identified the issue with their platform, however were unable to fix the issue by 4pm EST (Business Insider). Unfortunately for Robinhood, the same day markets bounced back with the biggest gain since 2009 – upsetting many users unable to capitalise on the upswing. Robinhood took to twitter to inform users –

Robinhood are yet to come out with a statement regarding the precise error that occurred, however many speculate that the heavy volumes were the reason why the platform went dark. Other brokerages have had similar issues such as Charles Schwab, which users have taken to twitter to voice their concern :

 

We will continue to update this story in the coming hours. If as speculated, the volume is the concern. Then we will see at 10pm EST how Robinhood adapts to the influx in investors ready to capitalise on the market rebound.

Here is our free, uncomplicated, and extensive ASX portfolio

https://youth-investment-group.com/portfolio/

If you enjoy our articles or are wanting to learn more, you can subscribe to us for free via email and get updates when we post new articles. From all of us at YIG, thank you for the support.

The information above should not be taken as financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.

Written by Tyger Fitzpatrick, Founder of YIG.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.