What made the Robinhood app crash? Record trading as the market soared and tanked

  • 📰 CNN
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

The founders of Robinhood, the free stock-trading app, explain what caused two outages within 24 hours during one of the stock markets' wildest swings.

People were unable to access the free stock-trading app Monday, when the Dow logged its biggest point gain in history. Again, on Tuesday, the app crashed for a brief time -- after Robinhood said it had fixed the issue. The app appears to be working on Wednesday, in what could be another big day for Wall Street.

Read More"We take our responsibility to you and your money seriously," the pair wrote."We recognize that many of you have questions, and we are working to respond to them as quickly as possible."The past two days have been disastrous for the startup, which is valued at $9 billion. The outages left users seething and some are threatening Robinhood with a class-action lawsuit. Robinhood has around 10 million users.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Robinhood users lash out on Twitter as outage keeps them on sidelines of market rallyHundreds of angry Robinhood users took to Twitter and Reddit to blast the start-up after a technical outage kept users from trading Monday.
Source: CNBC - 🏆 12. / 72 Read more »