For the second day in a row, traders who use the Robinhood app to buy and sell stocks were unable to conduct trades.
The company, which reported a “major outage” on Monday was down again Tuesday morning, following news the Federal Reserve cut its benchmark interest rate by a half-point, the biggest reduction in 12 years.
At 11:35 a.m. ET, the company said “partial service” had been restored, an upgrade form the “system-wide outage” the company announced via its website at 10:00 a.m. ET.
But users who tried to email the company to address the outage were unable to, as the company’s email support system remains down as well.
The crash comes after Robinhood announced Monday evening that it was “back up and running” after missing the entire trading day, when the stock market saw the biggest one-day gains in its history.
Robinhood has been a popular tool for millennial investors, due to its commission-free policy and openness to cryptocurrencies. The company has not given a reason for either of the outages, though one possible cause is a surge in trade volume as investors grow more concerned with the coronavirus outbreak.
Well I'll have to admit, I'm a sucker. I calmed down last night about the #robinhood outage, and was ready to give them another chance.
— Quinton Thurmond (@QuintonThurmond) March 3, 2020
Behold, we're 30 minutes in today and it's down again.
Fool me once, shame on you. Fool me twice, shame on me.
I'm out#RobinHooddown
Well I'll have to admit, I'm a sucker. I calmed down last night about the #robinhood outage, and was ready to give them another chance.
Behold, we're 30 minutes in today and it's down again.
Fool me once, shame on you. Fool me twice, shame on me.
I'm out#RobinHooddown
Me trying to get Robinhood to place my order. #robinhoodoutage pic.twitter.com/WX9YYiBcnc
— Missplaced (@MuddledPuzzle) March 3, 2020
Me trying to get Robinhood to place my order. #robinhoodoutage pic.twitter.com/WX9YYiBcnc
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