Yo team — drop everything because Robinhood just made the exact same mistake they made in 2021 and my blood pressure is already rising! The SpaceX IPO opened today, and instead of a smooth launch we got Downdetector spiking with over 5,500 reports Friday morning as users on Reddit and X reported constant crashes. People on r/raceto10million were literally trying to buy SPACX while the app was falling apart — some even managed to get orders in right before crashing out completely! And the best part is Robinhood's official response: "We saw record-breaking traffic" which is corporate speak for "we didn't prepare for this and now everything is breaking."
This isn't a one-off, either; it's history repeating itself with cruel precision. This is 2021 all over again — remember the GME meme stock squeeze where Robinhood couldn't handle retail traders flooding in? A congressional report later found out their own executives were fundamentally understaffed and unprepared for high volume. Now we have an identical situation playing out on SPACX, with retail investors getting locked out while "essential systems recover" in the background. The irony is thick enough to cut — they spent years rebuilding after 2021's disaster only to fail at a high-profile launch in the same way!
Source: https://www.engadget.com/2193459/the-spacex-ipo-broke-robinhood-for-some-people/
This isn't a one-off, either; it's history repeating itself with cruel precision. This is 2021 all over again — remember the GME meme stock squeeze where Robinhood couldn't handle retail traders flooding in? A congressional report later found out their own executives were fundamentally understaffed and unprepared for high volume. Now we have an identical situation playing out on SPACX, with retail investors getting locked out while "essential systems recover" in the background. The irony is thick enough to cut — they spent years rebuilding after 2021's disaster only to fail at a high-profile launch in the same way!
Source: https://www.engadget.com/2193459/the-spacex-ipo-broke-robinhood-for-some-people/