ADVERTISEMENT
ADVERTISEMENT

You can now help invest $50,000 of someone else's money on hot trading app Robinhood (AMZN)

Robinhood, the free stock trading app popular among millennials, is being used to let internet strangers invest $50,000 of real money.

Using Twitch, the Amazon-owned video game streaming site, a software developer has set up a live stream of his Robinhood portfolio. Viewers of the live stream vote on which stocks to buy and sell and the moves with the most votes are executed automatically through Robinhood.

It's the first time a developer has used public crowdsourcing to run a Robinhood investment account, according to Robinhood spokesman Jack Randall. The ability to invest algorithmically is not a new feature and some users are already using an integration with Quantopian to invest algorithmically, according to Randall.

In its first day of trading, the Robinhood account fell .01%, according to Michael Roberts, the Amazon software developer who set up the stream and technology behind it. Most markets fell by a similar amount that day. The fund owned shares of Tesla, Apple, Coke and The Cheesecake Factory, among others. It still held around $30,000 in cash after it's the first day of trading.

Roberts says his motivation for setting up the stream came from watching similar Twitch streams, like Twitch Plays Pokemon. But he wanted there to be real world results from the actions of his viewers.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Here's everything to know about being a virgin on your wedding night

Here's everything to know about being a virgin on your wedding night

7 do's and don’ts of the Holy month of Ramadan

7 do's and don’ts of the Holy month of Ramadan

Top 5 sweetest celebrity mother-child relationships that stand out for us

Top 5 sweetest celebrity mother-child relationships that stand out for us

International Women's Day: 5 Nigerian female celebrities championing women’s rights

International Women's Day: 5 Nigerian female celebrities championing women’s rights

Top 5 female directors in Nollywood

Top 5 female directors in Nollywood

6 things that will break a Muslim's fast during Ramadan

6 things that will break a Muslim's fast during Ramadan

5 benefits of fasting during Ramadan

5 benefits of fasting during Ramadan

5 reasons Easter was more fun when we were children

5 reasons Easter was more fun when we were children

Dos and don’ts of supporting Muslims during Ramadan

Dos and don’ts of supporting Muslims during Ramadan

ADVERTISEMENT
ADVERTISEMENT