Robinhood Outage Reported by Users, HOOD Stock Drops

Boluwatife Adeyemi
3 hours ago Updated 1 hour ago
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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Highlights

  • Downdetector data shows that Robinhood is currently facing an outage.
  • The crypto exchange has stated that they are working to fix the issue.
  • The HOOD stock is down amid this development,

Crypto exchange Robinhood is currently experiencing an outage, with users reporting issues accessing their accounts. The HOOD stock has dropped amid this development, currently in the red since the opening of today’s trading session.

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Robinhood Experiences Outage With Users Unable To Access Accounts

Downdetector data shows that the crypto exchange is facing an outage, with users logging complaints of being unable to access their accounts. Robinhood also confirmed the outage, stating that their team was aware of the issue and working to fix it as quickly as possible.

Meanwhile, the Robinhood stock is down amid this outage. TradingView data shows that the stock is currently trading at around $147, down from its last week’s closing price of $149.

Hood Daily Chart
Source: TradingView; HOOD Daily Chart

Notably, the crypto exchange’s outage coincided with the market open and amid AMD’s surge of over 27%. Some users complained about how this development impacted their trade, costing them a lot of money.

The Robinhood outage comes as the crypto exchange faces increased competition. Mike Novogratz’s Galaxy Digital just rolled out its GalaxyOne platform for retail crypto and stock trading, similar to Robinhood’s offering. The GLXY stock rose as much as 10% following the launch.

It is also worth mentioning that the HOOD stock is the only major crypto stock in the red, as other crypto stocks have rebounded with the Bitcoin price hovering at its current all-time high (ATH) of $125,500.

Strategy and Coinbase’s stocks are up 2% today. Meanwhile, Bitcoin Miner MARA Holdings’ stock is one of the largest gainers today, with a 5% increase since the market opened.

Meanwhile, the Robinhood outage was eventually resolved. The communication teams confirmed that a large number of customers experienced a brief service interruption, which they fully resolved by 9:55 am ET.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.