On: Robinhood goes down again, during another historic...

[nightski]

If they KNEW it was broken and were working on a fix, then they should of shut down the service. I'm sorry but this is simply unacceptable. I don't use Robinhood, but when you are handling very time sensitive contracts that can make or lose people a lot of money in a very short period of time if the service is not stable it should not of been in operation until it was fixed. I can't believe HN is making excuses for this.

[usefulcat → nightski]

If they do that, then they're definitely harming any customers who have a position they need to get out of, as opposed to only potentially harming them.

[nightski → usefulcat]

That's exactly what is happening right now anyways. Except in the past week many new positions were opened on a broken platform.

If this was Wells Fargo we'd see the pitchforks. But it's a SV company so all is good.

[to11mtm → nightski]

I mean, the investment community knows, and even on other sites there was a lot of encouragement to get -out- before the next disaster struck.

IMO anyone who opened a position on RH in the last week should not be shocked that the same thing happened again in this high volume crapstorm.

[usefulcat → nightski]

If you believe that the platform is so broken that it shouldn't be used (and I'm not arguing against that, btw) then a more reasonable solution would be to only allow position-reducing trades. That would also reduce overall trading volume on their platform.

Not that I expect them to do any of this, just pointing out that 'shut everything down' is not necessarily the best approach.