Houston investor Hy Luu uses margin borrowing to chase Tesla gains, amid record retail borrowing

Hy Luu, a 29-year-old Houston engineering consultant who lives with his mother, began margin investing in Tesla in 2021 and at one point amassed more than $100,000 of margin debt.

CNBC reports that Robinhood's margin book grew to a record $21.6 billion in the second quarter, up 127% year over year, and total margin debt hit around $1.5 trillion in June per FINRA. Luu says his net worth has risen to more than $800,000, but he stresses that his strategy is risky and does not recommend it.