Robinhood Outage Reported by Users, HOOD Stock Drops

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.

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.

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.