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Robinhood to offer case-by-case compenstion after trading app outages

Robinhood has recovered from a prolonged series of outages this week during one of the most volatile trading periods in U.S. history. The trading app was down nearly 17 hours starting at 6:30 a.m. PST on Monday and another two hours on Tuesday morning.

Robinhood operates one of the nation's most-used trading apps, and customers were temporarily unable to access the app, website or help center after the market had one of its worst weeks ever due to the reaction from coronavirus. 

The outage was due to instability in a part of its infrastructure that allows its systems to communicate with each other, according to a spokesperson. There was no problem due to coding for leap year, according to the company.

Robinhood said it was reaching out to customers to work with them on compensation on a case-by-case basis, which may include billing credits or other compensation. 

The company raised $323 million in July 2019, at a valuation of $7.6 billion. 

Cover image: Robinhood