The brokerage says it saw "record-breaking traffic."
It looks like trading platform Robinhood may not have been fully prepared for SpaceX IPO Day. Shortly after shares of Elon Musk's rocketship/AI/social media company began trading publicly, users started reporting issues with the brokerage service, according to The Wall Street Journal.
Reports of disruptions spiked Friday morning on downdetetcor.com, a website that monitors service outages, peaking at more than 5,500 reports. There were also numerous reports of Robinhood crashing on Reddit and X. In a post on r/raceto10million, numerous users said they were unable to access Robinhood at all, though some said they were able to place orders for SPCX before the app crashed.
Robinhood confirmed the issues, which it described as "intermittent," in a post on X. "Robinhood saw record-breaking traffic today," the company said. "As a result, some customers experienced latency and intermittent issues. Essential systems have recovered and our teams are closely monitoring."
Robinhood saw record-breaking traffic today. As a result, some customers experienced latency and intermittent issues. Essential systems have recovered and our teams are closely monitoring.
— Robinhood Help (@AskRobinhood)
[June 12, 2026]
A look at the replies, however, suggests that the technical problems are ongoing, at least for some users. Robinhood didn't immediately respond to a request for comment.
It's not the first time the brokerage has struggled during a high-profile moment. The company faced numerous technical issues during the 2021 meme stock craze that was largely fueled by retail traders on Robinhood. A congressional report later revealed that executives and employees had struggled to keep up with the sudden influx of new users and the massive spike in trading volume.