As retail panic trades most shorted stocks, a widespread outage of popular brokerage houses is being reported as the cash session begins. This seems to be the norm in the last couple of sessions, preventing some retail traders from participating in massive squeezes of Gamestop and AMC.
Downdetector reports Thursday morning that users of Robinhood, TD Ameritrade, E-Trade, Charles Schwab, Fidelity, and Webull are reporting issues and outages.
On a geographic level, users of Robinhood are experiencing problems and outages across the East Coast.
Robinhood confirmed Thursday morning, about thirty minutes after the cash session began, that users are experiencing issues with "equities, options, and crypto trading." The popular online brokerage app said disruption is with the IOS, Android, and web app.
A simultaneous (and some have said coordinated) outage of many popular retail brokerage platforms and apps seems odd given that volume is 30% below yesterday's.
Mission accomplished? Shut retail traders out of markets for stability reasons? After all, Wall Street can't be embarrassed by another retail induced short squeeze of popular stock names that blows up even more heavily levered hedge funds.