- Aug 19, 2003
- Reaction score
Sort of idiots who would lose their shirt on the stock market
A society promoting legendary outlaw Robin Hood has seen a huge surge in its social media following from people confusing it with the US stock trading platform Robinhood.
The World Wide Robin Hood Society promotes the tales of the hero and his connections with Nottinghamshire. More than 33,000 people began following the group on Twitter in 24 hours.
It comes as the trading platform with the same name curbed buying of shares in US electronics shop GameStop. Robinhood hit the headlines for restricting the firm's trading shares, causing outrage among Americans buying the company's stock with the aim of pushing up the price.
A bad/sad news story regarding the Robinhood App and a mistake.
The parents of a man who killed himself last year have filed a lawsuit against trading app Robinhood over his death.
The lawsuit, first reported by CBS News, said 20-year-old Alex Kearns mistakenly believed he owed $730,000 (£530,000) when he took his own life. Dan and Dorothy Kearns say their son was unable to get help or support from customer services before he died. Robinhood said in a statement to the BBC they were "devastated" by Alex's death and had made improvements.
Speaking to CBS, the parents of Alex Kearns say he began using Robinhood just before he graduated high school. Mr and Mrs Kearns say they did not know the app had also approved him to buy and sell options - a risky financial instrument - despite a lack of financial experience. They say their son realised on 11 June 2020 that his account had been restricted by Robinhood amid what appeared to be a negative balance of more than $700,000 on his account.
CBS reports the student received an automated email at 03:26 early the next morning asking him to take "immediate action" to pay more than $170,000 within days.
His parents say an email from Robinhood, received the day after his death, clarified that trading restrictions had been lifted and the trade resolved.