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TMZ.com
You can say Mark Cubanhe has a shark cub in his hands – his 11-year-old son joined Robinhood’s wave, but in just one day he learned some difficult lessons.
The “Shark Tank” star joined us on “TMZ Live” Thursday and told us all about his family’s newest trader, Jake, which was flying high on Wednesday, when it opened its Robinhood account and acquired some shares of AMC and BlackBerry.
I have to say LOVE LOVE what’s going on with #wallstreetbets. All these years of high frequency traders leading retail traders, now the speed and density of information and retail trade are giving the small an advantage. Even my 11-year-old son negotiated with them and earned $
– Mark Cuban (@mcuban) January 28, 2021
@mcuban
Mark says Jake was on the rise when he turned his first trades into seemingly easy money – but, like millions of investors, Thursday morning became a learning experience for him.
Pop had to split up for Jake – which goes up sometimes goes down. Like, right down.
Fortunately for Jake, his father is a billionaire, so this lesson won’t cost him everything – he invested only about $ 100, anyway. But, watch the clip … Mark taught his son something more about how to react when an action of his own preference suddenly collapses.
Leaving the stock school aside, Jake is angry at Robinhood closing negotiations – and Mark told us why the free trade application has some explanations to give.
It looks like Jake may not be the only young man entering the market. Mark says that his son used an unusual font to choose his actions … one that is fashionable among children.