One of the popular trading apps right now, especially with the younger crowd has been Robinhood. All was good in the hood until the app went down yesterday. Options traders got rekt as you can imagine. If you don’t sell or cover your outstanding option trade, or let it expire out of the money, you lose your whole principal or worse.
Alot of this was happening yesterday. Funny jokes were floating around on twitter about how the millennials were stressing out about their penny stock holdings, being locked out of the Robinhood app losing tens of dollars if not cents. Whales taking shots at minnows on social media seems funny to me.