Robinhood Lawsuit — Robinhood Shut Down for 2 Days And Is Getting Sued

Robinhood Lawsuit — Robinhood Shut Down for 2 Days And Is Getting Sued

Robinhood was down for 2 days. The first day the platform was unavailable was the biggest day for stocks in 12 years. The Dow gained 4.6%, but millions of Robinhood users could only watch and missed out on the biggest rally since the financial crisis.

In this article, we will talk about the facts of the Robinhood outage and what YOU can do if you were one of the Robinhood users that experienced losses or missed out on gains.

Before we dive into the Robinhood lawsuit and the outage, let’s first talk about…

What is Robinhood?

Robinhood was founded in April 2013 with a bold promise: Commission-free trading.

At that time, Schwab, TD Ameritrade and other big brokerage firms were still charging $6.95 per trade, so approx. $14 to buy and sell a stock.

Not only did Robinhood offer ZERO commissions, but they also have a genius marketing campaign:

Robinhood uses a viral marketing campaign: “Invite Friends, Get Free Stock”

As Robinhood says: “For every new friend you invite to join Robinhood, you can both earn a free stock” and they display the logos of Berkshire Hathaway, GE, Mircosoft, and others.