Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts

Robinhood experienced record-breaking traffic on May 23, 2024, following the initial public offering (IPO) of SpaceX's stock. The trading platform reported that a significant surge in user activity led to intermittent disruptions for some customers. These technical issues, however, have since been resolved. The IPO of SpaceX, a company founded by Elon Musk, generated substantial interest among retail investors, contributing to the unprecedented load on Robinhood's systems. While the exact number of affected users was not disclosed, the company confirmed that its services are now fully operational. This event highlights the challenges trading platforms face in managing extreme user demand during high-profile market events. Robinhood has previously navigated significant traffic surges, notably during the GameStop short squeeze in early 2021, which also tested its infrastructure.