In June 2020, a 20-year-old US college student took his own life after a mobile app he had been using to invest in the stock market showed that he was $730,000 (€601,000) in the red. It later turned out that the young man merely misunderstood the balance sheet. But by then, it was too late. Now the man’s family has filed a lawsuit against the trading app Robinhood, accusing the US investment platform of causing the untimely death of their son and brother. The news of the lawsuit comes weeks after a band of retail investors, guided by chatter on the social media platform Reddit , drove up the prices of certain short-sold stocks, rocking markets. Some made thousands, or even hundreds of thousands of dollars from the move. This has drawn attention to the growing influence of a new type of investor — individuals who trade stocks on their phones. But the venture also saw many lose money, and the new lawsuit is a sobering reminder that making daytrading accessible to anyone with internet access and a bit of petty cash comes with a new set of risks. Watch video 09:03 Share Gambling addiction – An expert's view Send Facebook Twitter reddit EMail… Read full this story
- Fun for grown-ups this August Bank Holiday weekend
- Target sale: 'Fun Run' deal features great discounts, Cartwheel offers
- Kinder website, app and YouTube channel banned
- Halloween 2018 in Derby and beyond: Your ultimate events guide
- The best Disney collaborations you've never seen before
- Bloomberg: 'Bitcoin and guns, that's the only way to save Ukraine'
- Envion: The chronology of a cryptocurrency catastrophe
- POLITICO London Playbook, presented by ExxonMobil: Good morning from Salzburg — May’s home run — Bottle-NEC
- How Gamification is revolutionising how we shop, spend and save
- October half term in Derby and Derbyshire
Robinhood hype: Should trading apps be less fun? have 287 words, post on www.dw.com at December 2, 2021. This is cached page on Europe Breaking News. If you want remove this page, please contact us.