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

Robinhood said it has seen a “record-breaking” postulation connected its trading level Friday successful the hours aft SpaceX’s historical nationalist markets debut.

The institution shared successful a station connected X that “some customers experienced latency and intermittent issues” with trading, but that the level rapidly recovered.

SpaceX’s shares started trading connected the Nasdaq banal speech astatine astir 11:47 americium ET. Those shares instantly started trading up astir 11%, pushing the company’s valuation past $2 trillion — and making Elon Musk the world’s archetypal trillionaire. In conscionable 1 hour, astir 263 cardinal shares person traded, according to Nasdaq, representing astir $42 cardinal worthy of SpaceX banal changing hands.

SpaceX lone made astir 4% of its shares disposable for trading successful the IPO, putting it successful a presumption for chaotic swings successful its banal terms arsenic it begins beingness arsenic a nationalist company.