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Tuesday, November 19, 2024

StockPence
Robinhood

WSB Trader uses Robinhood Exploit to Buy a $1 million Position

Sign up and get a free share of Apple or Microsoft on Robinhood

WallStreetBets a popular subreddit where traders bet on stock options and attempt to make millions in a short time has made a headline once again.

According to reddit user TheDrallen this isn’t the first time a WSB trader exploited this loophole. MoonYachts the user who exploited this loophole has claimed to buy a $1 million dollar position in Apple.

Although it may seem that they had magically appear in their account using this exploit, it looks they actually lose money. TheDrallen claims that the gains aren’t realized.

This exploit has been attempted by the following users

WSB Trader uses Robinhood Exploit to Buy a $1 million Position 1
Reddit chart

According to ControlTheNarrative here’s how the exploit works.

WSB Trader uses Robinhood Exploit to Buy a $1 million Position 2
Reddit comment

Hopefully Robinhood fixes this loophole.

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Investing involves substantial risk. Neither the Authors, the publisher, nor any of their respective affiliates make any guarantee or other promise as to any results that may be obtained from the articles herein. No reader should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, on any featured company here.

Some of the companies featured here may pay a fee to an affiliate of the publication to broaden awareness of said company.

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