It seems to me that using an online trading app is essentially no different from gambling and losing money in a casino. Casinos are not in the business of giving away money. For everyone or two people winning money in a casino there is a considerably larger number of people losing money. As for trading in the markets, they are not producing anything, merely trading on each other's mistakes.

"Games are not won by superior tact, skill or ability except in very limited circumstances, viz you or I step into a boxing ring with Mike Tyson. All games have deliberately skewed odds that favour a winning outcome as in the best of 3, 5 or 7 sets in a game. However, when the odds are changed to 2, 4, 6 and there are two players of equal practice time a different outcome emerges, a draw. The only way that you can win in any game or game-like situation is by taking advantage of your opponent's mistakes or inducing mistakes that give you an advantage." Arnold Arnold, Winners and Other Losers in War and Peace.

A sad situation. But with an app that makes investment similar to gambling and human nature being what it is, unfortunately the situation is likely to be replicated. Hopefully the buyers will hear about this and exercise more constraint in future.

Too young to understand it is only money....

I read the article, and the parents do have some valid general complaints.

Robinhood’s aggressive ploys to attract young customers, combined with its flagrant disregard for its duty of care to its customers, creates a time bomb that was destined to lead to the type of tragedy that happened to Alex, according to the complaint.

With its playful interface, Robinhood has brought a new class of U.S. traders into the market, raising concerns about the “gamification” of investing without fully explaining the risks. Critics claim Robinhood and other platforms have turned investing into an online social activity.

Financial services is a heavily regulated industry for a reason. There could be some new regulations that come for apps like Robinhood to protect the investor — even if this specific case ends up getting settled.