![]() Later that night, at 3:26 a.m., the company sent an automated email demanding Alex take "immediate action," requesting a payment of more than $170,000 in just a few days. On June 11, he saw Robinhood restricted his account reflecting what appeared to be a negative balance of $730,000. ![]() The Kearns believe Alex's inexperience is what got him into trouble after a transaction last year. Alex's Robinhood account was restricted and showed what appeared to be a negative balance of more than $700,000. "I don't understand how they allowed that to happen in the first place," Dan Kearns said. "I didn't see the harm in doing that." Dan Kearns said, adding he spoke with his son about responsible investing and believed Alex had "limited exposure."īut Dan and Dorothy Kearns didn't realize Robinhood had also approved Alex to buy and sell options, a risky financial instrument with the potential for huge losses. Dan and Dorothy Kearns knew Alex was trading stocks.
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