With each new day, GameStop stock soars to new heights. Unfortunately, for potential investors and sellers, the popularity of the GME stock price has resulted in technical difficulties across multiple trading apps. Robinhood, Trading 212, ETrade, Vanguard, and Ameritrade are all experiencing downtime, with messages like “No connection to the server” appearing for those trying to log in and view prices on iOS and Android. It’s always intense being an investor, but the unscheduled downtime of multiple key apps is sure to increase stress levels further.
Why is the Robinhood app not working?
The Robinhood app is not working due to an increase in demand, no doubt largely influenced by the popularity of GameStop (GME) stock.
With apps like Robinhood, Trading 212, ETrade, Vanguard, and Ameritrade all down, users have to turn to other means of buying and selling stocks in the meantime.
With GameStop’s stock price rising from $3 in April 2000 to $300 today, less than a year later, the surge of demand for trading apps is understandable. Unfortunately, the recent increase in demand seems to have been too much for many of the applications and now they are not working.
While Trading 212 has issued a statement on its Twitter account, there isn’t yet any acknowledgment or explanation of the issues affecting the Robinhood app. At the time of writing, the @RobinhoodApp Twitter page’s last post was published on January 15.
Here’s hoping the trading apps are up and running again soon, as people have real-world money invested in these stocks. Downtime for these apps can be mean a lot of money lost.
It’s largely thanks to r/WallStreetBets on Reddit that GameStop’s stock price began to skyrocket. Learn how here.
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