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.
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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.
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.
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