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Re: Young trader dies by suicide after thinking he racked up big losses on Robinhood
by
boyptc
on 24/07/2020, 04:02:36 UTC
People should understand what they are doing with money. I dont think that there are any problems with site. Main problem here is this young trader
No mate, the problem is the exchange. Read the reply of UserU.

I think it was from a miscalculated leverage Robinhood displayed. Not that he owed that amount.

https://edition.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html

Quote
Although Brewster initially believed Robinhood had improperly granted Kearns vast amounts of leverage to trade with, he no longer believes that was the problem. Twitter users who saw Brewster's stream of tweets alerted him that options traders on Robinhood sometimes see a negative cash balance until the other half of their trades are executed.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.

Perhaps you're right and Robinhood couldn't do anything about his death anyway.
But I hope they could clear their messages or whatever, because as we've witnessed - the consequences of misunderstanding could be lethal
They can't do anything but with those quotes, it seems to be that it's their fault led to this.