How a glitch allowed one trader to turn $3,000 into $1.7 million

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This all started with a $3,000 deposit

Reddit’s Wall Street Bets group learned a valuable lesson in responsible investing this week and, after years of encouraging and celebrating extreme risk-taking, the irreverent crew has finally embraced a more conservative approach.Yes, a glitch in stock-trading app Robinhood blew up on Wall Street Bets earlier this week, with traders boasting about the unlimited amounts of borrowed money the bug allowed.

One trader said that he turned his $2,000 into $50,000, and then proceeded to lose it all after he used it to buy Apple AAPL, +0.04% puts. Another trader said he turned his $4,000 into a $1 million position.

 

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What platform do you use to trade I’m using trading 212 but I’m not to happy with it

How legit is this 🤔

Harkeens5

I’m mad at myself for not finding and exploiting this earlier.

That’s not enough detail to explain anything

I’m the non-billiards playing guy in the TDAmeritrade commercial. This just seems all too complicated.

What’s a ch 7 bankruptcy among friends dudes record will be clean by age 30. Risk/Reward

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