As if Apple and Tesla were not already popular enough, demand for the now split shares, which are much cheaper for a new crop of investors, may be the cause of several trading firms getting knocked offline.
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TickerSecurityLastChangeChange %AAPLAPPLE INC.130.40+5.59+4.48%TSLATESLA INC.482.57+39.89+9.01%
TESLA, APPLE STOCK SPLITS PAVE WAY FOR MORE GAINS
In a midday tweet, Robinhood, the popular trading app, acknowledged a glitch after a fix was deployed yet noted it was not due to the stock splits of the two stocks.
TickerSecurityLastChangeChange %SCHWCHARLES SCHWAB35.80-0.48-1.34%
Charles Schwab tweeted a similar notification, warning customers that accounts may be "intermittingly inaccessible."
TickerSecurityLastChangeChange %AMTDTD AMERITRADE HOLDING38.69-0.49-1.25%
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TD Ameritrade clients were told to be aware of "high levels of slowness…"
E-Trade also encountered difficulty accessing its accounts, according to reports and various tweets. Inquiries by FOX Business were not immediately returned.
TickerSecurityLastChangeChange %ETFCE*TRADE GROUP (E*TRADE BANK AG)54.33-0.32-0.59%
The stocks jumped on Monday, amid heavy trading, sending the value of both higher.
Tesla, which split 5-for-1, saw its market cap rise to early $450 billion, while Apple split 4-for-1, was trading around $2.2 trillion intra-day.
Source Link:
https://www.foxbusiness.com/markets/apple-tesla-splits-cause-outages-for-trading-platforms
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