Robinhood Markets Inc‘s (NASDAQ:HOOD) equities trading volume surged to a record $5 billion on Tuesday, marking one of the platform’s biggest days in the past 12 months. This achievement comes amid a resurgence in retail trading, reminiscent of the 2021 meme stock frenzy, where Robinhood played a pivotal role as a favored platform for retail investors.
What Happened: Robinhood CEO Vlad Tenev revealed that the trading app had experienced a surge in equities trading volume, reaching a record $5 billion on Tuesday.
He also mentioned that the company would upgrade its systems to accommodate the increasing load, with certain features potentially being temporarily unavailable between 1 a.m. and 3 a.m. ET.
“@RobinhoodApp hit $5B in equities trading volume today … one of our biggest days in the past 12 months,” Tenev wrote.
.@RobinhoodApp hit $5B in equities trading volume today … — Vlad Tenev (@vladtenev) May 15, 2024
one of our biggest days in the past 12 months
In the first quarter, Robinhood reported a notable surge in options ...