Student trading on Robinhood kills self after seeing negative balance - Business Insider

citing screenshots of a negative $730,000 cash balance in Kearns' account. In an interview, Brewster confirmed the balance, which does not reflect a user's portfolio value or debt owed. The balance was likely due to complex options trades, which can settle over concurrent trading days, leaving a temporary balance during the interim.

A Robinhood spokesperson told Business Insider that it will not be sharing any details about the account in question, citing privacy concerns. Brewster commended the company for reaching out and offering a "senior level" employee for conversation. However, he also wants to know how the balance was displayed in the first place, and how Robinhood plans to mitigate any future incidents.

Robinhood, one of the first companies to make commission-free stock trading commonplace, is worth more than $8 billion following its latest round of funding. Qualified users can apply in the app to trade options contracts, inherently risky investments that give buyers the right, but not the obligation, to buy or sell a stock at a certain price within a period of time.

🤔 how are they proving this?

Sad. Even more so, eye-popping negative balance might only have been a book-keeping artifact while some of his offsetting trades hadn't yet cleared.

sheknowheabum remember when you mastered da market? Smh 🤣

So tragic. 😓💔🙏🏼

GinSecurities but the trades were free !

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

30 quotes that take you inside Albert Einstein's brilliant mind - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Einstein had a brilliant mind but also had a set of brilliant Maths Proffs on his team, Einstein had a vision and an idea and would get the maths worked out with his team of Maths Proffessors.
Source: BusinessInsider - 🏆 729. / 51 Read more »

These 10 stocks were the most bought on Robinhood over the last week | Markets InsiderRobinhood, the zero-commission brokerage platform that is popular with millenials, has seen a surge in trading volume as the market entered ... buy $NAK and JoinTheMovement of gold. $12.00 stock at $1.45. Grab it low! Way to not pump anything I own you jerks
Source: BusinessInsider - 🏆 729. / 51 Read more »

TikTok owner ByteDance reportedly saw $5.6 billion revenue for Q1 2020 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. *Thanks to Covid-19 Countdown begins for the end of tiktok Sacré Tiktok
Source: BusinessInsider - 🏆 729. / 51 Read more »

US will 'push off' UK trade deal with the UK over food standards - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Foia USA Demands What say YOU BorisJohnson and your Pro USA Cabal/Mafioso? QUBFoodProf FoodEthicist JoannaBlythman itsjillgardner You couldn’t see this one coming...oh no wait, you could see it from a mile away
Source: BusinessInsider - 🏆 729. / 51 Read more »