These 10 stocks were the most-bought on Robinhood over the last week (GNUS, AAPL, TOPS, AMZN, DIS, TSLA, UNOEK, NKLA, IDEX, UONE)

trader frenzy excited

Robinhood, the zero-commission brokerage platform that is popular with millenials, has seen a surge in trading volume as the market entered a volatile period due to the coronavirus pandemic.
Robintrack is a platform that uses data from Robinhood’s API to track how many of its users own a particular stock over time.
The compiled data is put into a charting format that helps show the relationship between the price of a stock and popularity with Robinhood users.
Here are the 10 stocks on Robinhood that saw the largest increase in user ownership over the last week.
Visit Business Insider’s homepage for more stories.

Robinhood, the zero-commission brokerage platform that’s popular with millenials, has seen a surge in trading volume as the stock market entered a volatile period due to the coronavirus pandemic.

Robintrack is a platform that uses data from Robinhood’s API to track how many Robinhood users own a particular stock over time. The platform was developed by a college senior and has seen a surge in popularity over the past few months.

The compiled data is put into a charting format that helps show the relationship between the price of a stock and its popularity with Robinhood users.

Read more: Wall Street’s best US and international stock pickers have tripled their clients’ money since 2010. The duo break down 5 future-proof companies that could keep investors ahead of the pack through 2030.

The data helps identify stocks where investors are either:

Buying the dip, which is apparent when the number of Robinhood account users owning a particular stock surges as the stock price falls.
Taking profits, which is apparent when the number of Robinhood account users owning a particular stock falls as the stock price rises.
Going full FOMO, which is apparent when the number of Robinhood account users owning a particular stock rises as the stock price rises.
Jumping ship, which is apparent when the number of Robinhood account users owning a particular stock falls as the stock price falls.

  From warehouses to office space, real-estate markets are being turned upside down. These are the winners and losers.

The data is also helpful for contrarian investors to go against the herd and identify popular stocks to sell short or unpopular stocks to buy long.

Here are the 10 stocks on Robinhood that saw the largest increase in user ownership over the last week.

10. Urban One

Urban One was the 10th most popular stock added to Robinhood accounts over the past week.

The $20 million micro-cap operates an urban-oriented multi-media business in the US. Robintrack shows 17,038 Robinhood accounts bought shares in the company, bringing the total to 19,333 as of Thursday.

The 742% increase in Robinhood account ownership was accompanied by a more than 600% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.

9. Ideanomics

Ideanomics was the ninth most popular stock added to Robinhood accounts over the past week.

Ideanomics is a $323 million small-cap technology company. Robintrack shows 19,140 Robinhood accounts bought shares in the company, bringing the total to 48,620 as of Thursday.

The 64% increase in Robinhood account …read more

Source:: Businessinsider – Finance

      

(Visited 2 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *