Robinhood has a glitch thats letting users borrow far more than they should

A glitch in the the stock trading app Robinhood is allowing users to trade stocks with excess borrowed funds, and the company doesn’t appear to have found a fix as of this writing. According to Reddit’s WallStreetBets forum, and first  reported on by Bloomberg, one trader bragged about a $1 million position funded by a $4,000 deposit. Another says he accessed $50,000 worth of purchasing power, which he used to buy Apple puts. He subsequently lost that money and posted a video of the wipe-out on YouTube (below). Asked whether the issue has been resolved, how long it has been possible for users to exploit the platform, and for more information about the number of people who’ve taken advantage of …