"Ally Invest, others face disruptions amid 'unprecedented' trading volume"
--- "A number of major brokerages reported technical difficulties this week, days after high volume paralyzed the trading platforms in the midst of a WallStreetBets-fueled frenzy.
Elevated interest in stock market bets, combined with turnover from unhappy customers switching platforms, triggered service problems at Ally Invest (ALLY) and brief outages at other brokerages like TD Ameritrade and Fidelity.
The issues raise questions about the technical capacity of the large brokerages to handle the surge in trading interest, as meme stocks like GameStop (GME) and AMC Entertainment (AMC) draw interest from brand new investors at unseen volumes.
Volume last Wednesday reached record levels, as investors traded more than 23.6 billion shares of U.S.-listed companies, according to Bloomberg data. Activity on Monday was comparably lower at 15.9 billion shares, but still elevated compared to normal trading levels over the past few months."
A number of major brokerages reported technical difficulties this week, days after high volume paralyzed the trading platforms in the midst of a WallStreetBets-fueled frenzy.
Elevated interest in stock market bets, combined with turnover from unhappy customers switching platforms, triggered service problems at Ally Invest (ALLY) and brief outages at other brokerages like TD Ameritrade and Fidelity.
The issues raise questions about the technical capacity of the large brokerages to handle the surge in trading interest, as meme stocks like GameStop (GME) and AMC Entertainment (AMC) draw interest from brand new investors at unseen volumes.
Volume last Wednesday reached record levels, as investors traded more than 23.6 billion shares of U.S.-listed companies, according to Bloomberg data. Activity on Monday was comparably lower at 15.9 billion shares, but still elevated compared to normal trading levels over the past few months."
‘I am pulling all my money’
"At Ally Invest, users reported issues logging into accounts over the weekend, and those able to successfully get through saw massive discrepancies in their account balances.
Fowana Terry lives in San Francisco and noticed on Saturday that her Ally Invest account was showing the wrong balance, reflecting old stock holdings from 2017. The issue was not corrected until Tuesday night."
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