Old school trader Peter Brandt, who started his trading career in the mid-1970s, has given feedback on the new feature that has just been launched by the Robinhood investment app for crypto and stocks. However, his response to it is more sarcastic than positive.
Brandt believes that, thanks to this new feature, investors and traders are likely to begin misleading their followers on X and YouTube.
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Robinhood rolls out new feature; Brandt comments
Peter Brandt quoted Robinhood’s tweet, sarcastically spotlighting this new feature launched by the popular platform. The feature is called “Multiple accounts,” and Robinhood’s tweet stated that it allows investors to organize their portfolio in any way they see best.
“Group by asset class, time horizon, investing themes, or personal goals, all in one place,” it adds some details, describing it. This feature is being rolled out to all Robinhood users now, according to the X post.
However, Brandt seems to write a bit ironically about this new tool offered by Robinhood. “This is the best part,” he commented. The savvy trader pointed out that the multiple accounts of Robinhood will now allow X users to show screenshots from at least one account as the one “making the big bucks,” even though the rest of the trader’s accounts may be taking heavy losses, and thus pretend to be a successful trader or mislead their X followers with their “success.”
The same goes for YouTube. In the comments section, Peter Brandt concluded: “This will make X and You Tube even more toxic slim buckets.”