Robinhood outlines steps to prevent trading halts during market volatility

Robinhood Markets (NASDAQ:HOOD) stock rises 2.8% in premarket trading after the company discloses steps it's taking to avoid the kind of restricting trading activities on certain stocks like they did a year ago during the meme-stock craze. "We never want our customers to be surprised with trading restrictions again," the company said in a blog post. Robinhood (HOOD) Securities' net capital position now stands at $2.7B, 25 times what's currently required by the U.S. Securities and Exchange Commission and putting the unit in a strong position to keep serving its customers through unlikely market events, it said. It hired dozens of professionals within the past year to strengthen its compliance and risk infrastructure, including improvements to its technology scaling capabilities and enhancing customer disclosures regarding the use of margin on its platform. The size of its customer support team doubled last year and Robinhood (HOOD) introduced 24/7 phone support for all issues. Industry-wide,