The stock market rebounded in historic fashion on March 2, 2020 after a week of losses. The Dow Jones made its biggest point gain ever, and each of the major indices saw gains over 4 percent. However, when the market opened on Monday, users of the popular investing app, Robinhood were unable to capitalize on the market’s big day because the brokerage firm and trading platform was inoperable for nearly the entire trading day.
Users that had planned for a market rebound were essentially stuck watching the rebound happen while being unable to execute the necessary trades. Other investors have posted pictures of their losses, some totaling as much as $500,000. Some traders, such as those holding options positions, as well as those holding long volatility products, suffered enormous losses that day because they were not able to trade and their positions essentially rotted on a broken platform.