Robinhood app back online after earlier outage

[BENGALURU] Robinhood Markets, the fintech startup credited with helping popularize trading among millennials, said on Tuesday it had restored services on its trading app following a brief "service disruption" earlier in the day.

Since March, the app has experienced outages especially on days when trading volumes are higher than usual.

Robinhood has been at the centre of a recent upsurge in day trading by retail investors, who have been homebound due to coronavirus lockdowns. The higher-than-usual traffic on its app led to multiple outages since early March.

The company is being investigated by the US Securities and Exchange Commission and the Financial Regulatory Authority over the handling of a similar outage in March, Bloomberg News reported on Monday, adding that the investigators were also focusing on the company's lack of customer response.

REUTERS