Many millennials turn to the Robinhood app as a way to start trading in a way that promotes minimal risk. Unfortunately, the popular investment app has gone through two different outages in just a 24-hour period. Since yesterday was a huge historical moment in the stock market, many users are feeling like they were left out of a once-in-a-lifetime experience, and some are eveen threatening legal action against the company. On a bright note, commission fees have now been dropped by other major companies such as Charles Schwab and TD Ameritrade as a result.
Key Takeaways:
- On March 3 of 2020 the Dow lost more than 700 points. This had many investors seeking the elusive market bottom.
- On March 2 the market experienced an historic rally, which some investors missed out on when a popular investing app had a black out.
- Some investors felt so defrauded there were even threats to sue the popular app, which goes by the name Robinhood.
“Younger investors who have decades to accumulate wealth are better off continuing their regular contributions to their portfolios, and letting their money work for them over time.”