#1 Robinhood, Etrade go down as stocks soar

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Stock trading platforms Robinhood and Etrade are down as stock markets soar.

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.

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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 several days of outages saw users unable to trade on the platform. Users were left furious after the outage prevented access to the platform on what was one of the busiest trading days of the year so far.

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. Last year Etrade reported record revenue of $2.9 billion.

We’ve reached out to the companies for more. We’ll have more as we know it.

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