He’s lost hundreds of thousands in stocks like SpaceX and Beyond Meat — and he’s not stopping. Is the ‘high’ worth it?
Akshay Sapra, a 31-year-old from Toronto, Canada, lost over $250,000 in a week of day trading SpaceX shares and call options. Despite the significant losses, Sapra plans to continue trading, finding the highs of the activity too enticing. He attributes his trading errors to emotional and impulsive decisions, posting every trade on a stream or YouTube channel to have an audience monitor his actions and potentially intervene.
Sapra's trading spree began with expectations of SpaceX shares rising on their first day on the Nasdaq-100. He loaded up on thousands of shares and call options, only to see the stock fall instead, leading to substantial losses. He has since returned to a software engineering job and is participating in a three-week gambling addiction program.
Sapra's trading journey started in his university years, providing him with newfound financial independence and a sense of control over his life. However, as his wealth grew, he set higher and higher targets, eventually losing nearly his entire $1.7 million in trading. Despite the addiction program and deleting trading apps, Sapra believes he will continue trading, despite the risks involved.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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