Update (1131 ET): Bloomberg reports the Ameritrade disruption could be due to "unprecedented volumes" of users attempting to access "its mobile app."
... and why would retail be rushing to mobile trading apps?
Well, to trade Gamespot, of course.
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Update (1010 ET): Add Vanguard, TD Bank, Interactive Brokers, Webull, and Merill to the list of retail brokerages experiencing outages or problems this morning.
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Following massive short squeezes of beaten-down stocks, such as GameStop and AMC Theatres by retail traders, multiple brokerage houses are down or experiencing problems on Wednesday morning.
This morning's market action is extending that chaos. As the short-squeeze accelerates...
...Hedge funds are being forced to liquidate their longs...
Downdetector reports Robinhood, Ameritrade, E-Trade, Charles Schwab, Fidelity are experiencing issues or outages as the US cash session began around 0930 ET.
Robinhood users experiencing problems or outages of the trading app are primarily based in Mid-Atlantic and Northeast states.
Ameritrade users in Mid-Atlantic and Northeast states face problems and issues with the trading platform.
E-Trade users experiencing issues with the trading platform are more widespread.
Twitter is full of angry Robinhood users who can't access the trading app.
trading has been halted, Robinhood is down, and wall street is in full blown panic mode all from a subreddit, shitposters, gamers, and degenerates from all corners of the internet. it's beautiful— Rod Breslau (@Slasher) January 27, 2021
So GME seems to have literally broken retail investors access to the market right now. Trading212 down. ETrade down. Robinhood in the US down. Ameritrade down. If you aren't following this story you need to start, it is crazy.— Jason Mountford (@jmountfordfp) January 27, 2021
Robinhood is down and holding everyone’s vast yolo fortunes hostage— litquidity (@litcapital) January 27, 2021