Robinhood, Etrade go down as stocks soar

Robinhood, Etrade go down as stocks soar

Stock trading platforms Robinhood and Etrade are down on a day that’s seen rare gains in the U.S. stock market.

Neither company acknowledged immediate outages with their platforms. Robinhood’s status page says all systems are “operational,” but its website crashed on loading, stating: “An internal error occured! [sic].”

After weeks of turbulent markets largely driven by coronavirus concerns, the Dow Jones Industrial Average (DJIA) is up 3% in early morning trading.

Users quickly turned to Twitter to complain.

Robinhood, which earlier this month raised $280 million pushing its valuation to $8.3 billion, took heat in March after two days of outages saw users unable to trade on the platform. The financial startup said it would offer case-by-case compensation to its 10 million users for their troubles. Months earlier, the company admitted a glitch that let users borrow more money than they were allowed.

Morgan Stanley bought Etrade earlier this year for $13 billion.

We’ll have more as we know it.