Robinhood, WeBull and other brokerages are down for the count, right now, thanks to extreme volatility in a wide variety of stocks across several markets. If we’re looking at GameStop and AMC, we see massive market manipulation and calls from regulators to stop trading altogether. If we look at cryptocurrencies like Bitcoin and Dogecoin, we see a bit more of the same.
Overnight several brokerages stopped orders for new purchases of AMC, GameStop (GME) and others. UPDATE: Also included in the block were BlackBerry and Nokia – creating a pack of stocks that wouldn’t otherwise see more than a single point percentage change in a day on most days of the week. TD Ameritrade and Interactive Brokers (IPKR) also blocked the purchase of GameStop and AMC in the early hours of the day.
This morning not long after opening bell, several brokerages were kicked out of commission completely. Issues began with volatility in stocks outside of the main offenders listed above, spreading to cryptocurrency and beyond. TD Ameritrade was also experiencing issues with online trades in the early hours of the day here on January 28, 2021.
Orders were sent, cash was registered, stocks weren’t counted – the whole thing was a mess. As it was back in September of 2020, it’s again evident that Robinhood has issues when trading is most lucrative. It’s clear that server power and steadfast support is needed if this easy-access stock brokerage system is to continue on into the future.
Are you having issues with your brokerage of choice? Let us know! Leave a comment below or head over to @SlashGear on Twitter to tell us your story with this absolute market madness here in January of the year 2021.