{"id":122117,"date":"2021-02-09T12:37:49","date_gmt":"2021-02-09T17:37:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=122117"},"modified":"2021-02-09T12:42:56","modified_gmt":"2021-02-09T17:42:56","slug":"he-thought-he-lost-730000-on-robinhood-and-killed-himself-now-his-parents-are-suing","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/he-thought-he-lost-730000-on-robinhood-and-killed-himself-now-his-parents-are-suing\/","title":{"rendered":"He Thought He Lost $730,000 On Robinhood And Killed Himself. Now His Parents Are Suing."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhe-thought-he-lost-730000-on-robinhood-and-killed-himself-now-his-parents-are-suing%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=122117&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/02\/GettyImages-1230992875.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Alex Kearns was still in high school when he began using the stock-trading app Robinhood to make investments. He started buying and selling stocks with his owns savings from birthday gifts and his summer job \u2013 a total of about $5,000, his father <a href=\"https:\/\/www.cbsnews.com\/amp\/news\/alex-kearns-robinhood-trader-suicide-wrongful-death-suit\/\">told<\/a> CBS News.<\/p>\n<p>His parents, Dan and Dorothy, said they spoke to Alex about responsible investing, believing he had \u201climited exposure\u201d to the risks of stock-market trading. Robinhood, however, makes it incredibly easy for users to buy and sell options, a riskier investment. CBS determined that all a user has to do to be approved by Robinhood to buy and sell options is to check that they at least have \u201cnot much\u201d experience in trading. That\u2019s it.<\/p>\n<p>\u201cI don\u2019t understand how they allowed that to happen in the first place,\u201d Dan told the outlet.<\/p>\n<p>On June 11, 2020, Alex looked at his Robinhood account and discovered it was restricted and showed an apparent negative balance of $730,000. Early the next morning, at 3:26 a.m.,&nbsp;the company sent Alex an automated message saying the now-20-year-old needed to take \u201cimmediate action\u201d and pay more than $170,000 in the next few days.<\/p>\n<p>\u201cHe thought he blew up his life. He thought he screwed up beyond repair,\u201d Dan told CBS.<\/p>\n<p>Panicked, Alex tried to contact someone at Robinhood, but since there was no customer service phone number, he sent three emails to its support account, trying to understand what had happened.<\/p>\n<p>\u201cI was incorrectly assigned more money than I should have, my bought puts should have covered the puts I sold. Could someone please look into this?\u201d&nbsp;Alex wrote in the emails, according to CBS.<\/p>\n<p>He received an automated message in response saying, \u201cThanks for reaching out to our support team!\u201d It added: \u201cWe wanted to let you know that we\u2019re working to get back to you as soon as possible, but that our response time to you may be delayed.\u201d<\/p>\n<p>Later that day, Alex committed suicide. He left behind a note to his parents that asked \u201cHow was a 20-year-old with no income able to get assigned almost $1 million worth of leverage?\u201d<\/p>\n<p>\u201cThe puts I bought\/sold should have cancelled out, too, but I also have no clue what I was doing now in hindsight. There was no intention to be assigned this much and take this much risk, and I only thought that I was risking the money that I actually owned. If you check the app, the margin investing option isn\u2019t even \u2018turned on\u2019 for me. A painful lesson. F*** Robinhood,\u201d he added.<\/p>\n<p>One day after Alex\u2019s suicide, Robinhood sent another automated email, which seemed to indicate the issue was fixed and that Alex didn\u2019t owe money.<\/p>\n<p>\u201cGreat news!\u201d The email read, according to a copy obtained by CBS, \u201cWe\u2019re reaching out to confirm that you\u2019ve met your margin call and we\u2019ve lifted your trade restrictions. If you have any questions about your margin call, please feel free to reach out. We\u2019re happy to help!\u201d<\/p>\n<p>Alex\u2019s parents are suing the company for \u201cwrongful death, negligent infliction of emotional distress and unfair business practices,\u201d CBS reported.<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/em> <a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alex Kearns was still in high school when he began using the stock-trading app Robinhood to make investments. He started buying and selling stocks with his owns savings from birthday &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1892992,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[5532,3940,5987,5007,3853,5986],"class_list":["post-122117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-himself","tag-killed","tag-lost","tag-parents","tag-robinhood","tag-thought"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/122117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=122117"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/122117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1892992"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=122117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=122117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=122117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}