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Company News

UPDATE 1-Robinhood systems back up after trading issues

(Adds users on Downdetector, background)

Nov 10 (Reuters) - Robinhood Markets Inc, the startup credited with helping popularize trading among millennials, said status.robinhood.com all its systems were operational after some users faced issues with its equities, options and crypto trading platforms earlier on Tuesday.

The Menlo Park, California-based fintech firm has seen multiple outages since March due to higher-than-usual traffic on its app from a recent upsurge in day trading by retail investors.

Some Robinhood users complained on Tuesday that they were unable to buy or sell contracts, according to outage monitoring website Downdetector.com.

It was not immediately clear what had caused the issues and how many users had been impacted.

Robinhood did not immediately respond to a Reuters request for further comment.

Stock trading volumes on retail platforms hit record levels on Monday, driven by the impact of positive news about Pfizer’s experimental COVID-19 vaccine, but clients of some major brokerages said technical difficulties meant they had missed out on the rally.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Krishna Chandra Eluri, Aditya Soni

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