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TMZ.com
We could say Cuban Markhas a baby shark on his hands – his 11-year-old son was a part of the Robinhood craze, but in just one day he learned some tough lessons.
The “Shark Tank” star joined us on “TMZ Live” on Thursday and told us all about her new family trader, Jake, which was flying high on Wednesday, when he opened his Robinhood account and picked up some shares of AMC and BlackBerry.
I have to say I like to love what’s going on #wallstreetbets. All these years of high frequency traders ahead of retail traders, maintaining the speed and density of information and retailing gives the little guy an edge. Even my 11 year old traded with them and won $
– Mark Cuban (@mcuban) January 28, 2021
@mcuban
Mark says Jake was riding high as he turned his first trades into seemingly easy money – but like millions of investors, Thursday morning turned into a learning experience for him.
Pop must have broken it down for Jake – sometimes going up is really low. Like, downstairs.
Luckily for Jake, his dad is a billionaire, so this lesson won’t cost him everything – he only invested around $ 100, anyway. But watch the clip … Mark taught his son something else about how to react when a song you love suddenly collapses.
Stock School Aside, Jake is ticked off about Robinhood closure of trades – and Mark explained to us why the free trading application had to be explained.
Looks like Jake might not be the only youngster hitting the market. Mark says his son used an unusual source to choose his actions … a source that is all the rage among children.
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