- A Monday Robinhood glitch temporarily showed customers' balances at $0 or less.
- Users posted screenshots on Twitter of incorrect balances, with some in the negative.
Some Robinhood customers found their balances had plunged to $0 or even into negative territory on Monday amid a glitch on the app.
Users shared screenshots of their portfolios online, saying the correct amount was shown one minute, and then an incorrect figure the next.
Late Monday, the company announced the "system issue" had been fixed.
"Today we experienced an issue that affected the display of your portfolio balance and for a short time, crypto functionality," Robinhood tweeted.
—Robinhood Help (@AskRobinhood) May 16, 2023
The latest snafu comes just two weeks after Robinhood mistakenly listed AMC Entertainment as bankrupt, which AMC Chief Executive Adam Aron quickly lambasted in a tweet:
"What the DUCK !!!!! I am getting multiple reports that Robinhood briefly posted today that AMC filed for bankruptcy. How can companies like Robinhood do this? So ludicrous, so wrong, so irresponsible. On Friday, we report Q1 earnings, and will announce our sizable cash position."
Since launching in 2015, the trading firm has faced a slate of glitches and accusations reported by users, most notably being the trading halt during the meme-stock boom in January 2021. Later that year, it paid $70 million to settle regulatory allegations without admitting to or denying the claims, per the Wall Street Journal.
The glitch also comes as Robinhood is scheduled this week to launch 24-hour trading on weekdays for certain stocks and ETFs.