Robinhood App Fails Again During Critical Market Trading Hours

After experiencing a significant outage final week, main inventory and cryptocurrency buying and selling app Robinhood is troubled once more.

Robinhood encountered one other technical outage on Monday, inflicting its platform to halt buying and selling providers, in response to a March 9 tweet by Robinhood’s help group.

The agency introduced earlier on the day: “Buying and selling is at the moment down on Robinhood and we’re investigating the difficulty. We’re targeted on getting again up and operating as quickly as potential and we’ll replace the standing web page with the most recent.” Subsequently, Robinhood has partially restored buying and selling, noting that they’re working to get the platform again up and operating absolutely. In accordance with on-line reviews, the platform was partly useful after simply an hour of downtime.

As of press time, Robinhood app continues to be experiencing points with equities, choices and cryptocurrency buying and selling, in response to Robinhood’s standing web page. In accordance with the web site, Robinhood has already recognized the difficulty and carried out mandatory measures to repair the issue, whereas these buying and selling providers are experiencing “degraded efficiency.” The newest outage on Robinhood follows a significant technical downside that occurred final week. As reported, the day-long outage on March 2 purportedly brought about Robinhood customers to overlook out on the largest one-day level acquire within the Dow Jones historical past, with customers apparently planning to begin a authorized class motion in opposition to Robinhood.

In accordance with a report by CNBC, a Robinhood shopper based mostly in Florida filed a federal class lawsuit on March 4. The plaintiff, Travis Taaffe, reportedly alleges that Robinhood breached its contract by failing to “present a functioning platform,” inflicting merchants to be unable to switch cash whereas inventory markets surged.

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