Tuesday 16th April 2024

    TradeBriefs Editorial

    From the Editor's Desk

    Millions Turn To Stock Trading During Pandemic, But Some See Trouble For The Young

    Stuck at home this spring, University of Nebraska student Alexander Kearns spent his empty hours buying and selling stocks online, learning as much as he could about investing.

    "He sounded like a kid that was really, really excited to be studying something that he found interesting," says Bill Brewster, his cousin by marriage.

    What no one knew was that Kearns had been trading options on a popular app called Robinhood, and at some point appears to have mistakenly concluded he had lost more than $730,000.

    "How was a 20-year-old with no income able to get assigned almost a million dollars' worth of leverage?" Kearns wrote in a note found after his June 12 suicide. "... I also have no clue what I was doing now in hindsight."

    Continued here


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