Why did HOOD move on Oct 6, 2025?

Robinhood (HOOD) stock fell on October 6, 2025, after the platform suffered a major, widespread service outage starting right at the market open around 9:30 a.m. ET. The technical failure triggered over 11,000 user reports on Downdetector, locking traders out of their accounts and preventing them from executing trades during a period of high morning volatility. The stock, which had opened in positive territory, quickly reversed and dropped as much as 5.7% on the day amid mounting user frustration and potential liability concerns.