“We apologize for the connection and latency issues on our website. These issues have been corrected, ”TD Ameritrade said on Twitter.
Twitter posts indicated technical issues with Charles Schwab (SCHW) – Get the report, E-Trade Financial (ETFC) – Get the report, Vanguard Group and Robinhood.“Looks like the big boys are taking their first steps and everyone has to wait. Lol, ”one commenter tweeted.Many customers experience high levels of slowness on the TD Ameritrade web platforms and the TD Ameritrade mobile app. We are working to resolve the issue as quickly as possible, ”TD Ameritrade said on Twitter.
Joe Saluzzi, Partner and Co-Director of Equity Trading at Themis Trading, told MarketWatch that he has watched a wave of Tesla and Apple shares change hands and he wondered if this might cause issues with various trading systems. online trading.
“It’s a huge amount of volume. You can’t even blink and they go through, ”he says.
MarketWatch said a Twitter account associated with PJ Matlock, managing director of Atlas Trading in New Jersey, said Vanguard and Charles Schwab were also having issues on Monday.
Robinhood is under investigation by the Securities and Exchange Commission and the Financial Industry Regulatory Authority for its handling of a March outage, according to Bloomberg.
Robinhood did not immediately respond to a request for comment
Shares of Apple and Tesla both climbed Monday as the respective stock splits of the two titans became effective.
Apple, which last month became the first company to achieve a market cap of $ 2 trillion, said in its third-quarter earnings call that the split was aimed at making its stock more accessible to more investors.
Shares that split have historically outperformed the market after the distribution, as investors view these moves as a sign of confidence in the company’s long-term growth prospects.
Tesla shares have gained more than 50% since the electric vehicle company in Palo Alto, Calif., Unveiled its plans to split on Aug. 11.
Tesla is heading towards a likely inclusion in the S&P 500 stock index this fall.
Credit Suisse analysts suggest the inclusion of the S&P 500 could spark even more activity on Tesla stock, with “significant” incremental purchases of around 18 million shares – around 10% of the total outstanding – from passive investors and fund managers who follow the benchmark.