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kearns5 1.png?resize=1200,630 - 20-Year-Old Student Took His Own Life After A System Glitch Showed A Massive Debt In His Account

20-Year-Old Student Took His Own Life After A System Glitch Showed A Massive Debt In His Account

A 20-year-old college student took his own life after seeing a massive debt in his account on a stock trading app.

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Alexander E. Kearns, a University of Nebraska student, passed away after throwing himself in front of a train in Illinois.

His heartbreaking suicide note was shared online by Bill Brewster, his cousin-in-law.

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The note reads: “If you’re reading this then I am dead. See the image “Suicide 2” for why, I suppose.

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“How was a 20 year old with no income able to get assigned almost a million dollar’s worth of leverage? The puts I bought/sold should have cancelled out, too, but I also have no clue what I was doing now in hindsight. There was no intention to be assigned this much and take this much risk.

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Bill Brewster/Twitter

“I only thought that I was risking the money that I actually owned. If you check the app, the margin investing option isn’t even “turned on” for me.

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“A painful lesson. F**k Robinhood.”

Kearns’ family said that he had just started trading during the pandemic and was so delighted as he learned more about the markets and trading techniques.

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In an interview with Forbes, Brewster said: “When he saw that $730,000 number as a negative, he thought that he had blown up his entire future. I mean this is a kid that when he was younger was so conscious about savings.”

He added: “Tragically, I don’t even think he made that big of a mistake. This is an interface issue, they have slick interfaces. Confetti popping everywhere.

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“They try to gamify trading and couch it as investment.”

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Robinhood told Forbes: “All of us at Robinhood are deeply saddened to hear this terrible news and we reached out to share our condolences with the family over the weekend.”

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