Robinhood, a brokerage app, was beset by outages for a second day as buying and selling volumes soared. The disruptions come because the platform is examined by swift buyer development and heavy market turmoil.
The malfunctions put Robinhood out of service in the course of the US trading day yesterday and part of today earlier than service was restored. Costs have gyrated and shopping for and promoting has soared amid concern that Covid-19, the illness attributable to a brand new coronavirus, is spreading. Late final yr the Menlo Park-based firm mentioned it had 10 million users, up from 6 million accounts in October 2018.
Expertise outages are pricey for patrons and embarrassing for the executives accountable for them. Robinhood is way from alone:
Expertise disruptions get much more discover when cash is concerned. A Twitter handle created yesterday named “Robinhood Class Motion” already had greater than 6,000 followers right now.
“In relation to your cash, points like this aren’t acceptable” Robinhood said today on Twitter. “In the event you’re a buyer, we’re sending you data on easy methods to contact us so we are able to work with you straight to handle your issues.”
This story has been up to date to incorporate Chime’s outage in 2019.