These 10 Stocks Were the Most Popular on Robinhood Last Month

These 10 Stocks Were the Most Popular on Robinhood Last Month

The saga of hip trading continues with Robinhood paving the way. Last week, we saw the huge rally of Kodak shares, thanks in large part to Robinhood’s enthusiastic traders. You may have noticed that Robinhood keeps an exact track of which stocks are held by its users. Therefore, it’s time to delve deeper into which stocks Robinhood traders hold in high regard and why.

Robintrack Reveals Most Popular Stocks on Robinhood

It is not often the case where we can easily access information on how many users hold which stocks on a trading platform. As in other ways, the Robinhood stock trading app is the exception.

The moment it launched, Robinhood became a global sensation due to its main feature of zero-commission trading. And when people like something, they work to improve it.

Therefore, thanks to the efforts of a student in his senior year at Valparaiso University in Indiana — Casey Primozic — Robintrack platform was born two years ago. Tapping into Robinhood’s Application Programming Interface (API), Robintrack offers a nifty way to expediently gauge a stock’s popularity and its long-term performance on Robinhood in a chart form.

More importantly, given Robinhood’s millennial, day-trading nature, Robintrack is great at exposing stock movements in which Robinhood users exhibit the most common trading behaviors. Accordingly, you will see the FOMO (fear of missing out) trend, buying the dip surge, abandoning stock panic, and raking in the profits.

All of these behaviors can be observed by simply matching the price stock with the number of Robinhood users holding the stock. For example, if there is a FOMO trend, this will be demonstrated by the number of Robinhood traders rising as the stock price rises. Likewise, if people are withdrawing profits, you will see the number of Robinhood traders falling, while the stock price continues to surge.

The Top Ten Stocks on Robinhood

At the time of this writing, the most popular stocks, held by the greatest number of Robinhood traders, are American giants with deep pockets. The likes of Ford Motor in the lead, General Electric, Apple, Microsoft, Disney, and Tesla. Seemingly counter-intuitively, companies dealing with travel are still holding the top 10 spots despite the coronavirus tourism market slaughter.

American Air Lines, Delta Air Lines, and Carnival cruising hold 4th, 7th, and 9th positions respectively — despite suffering precipitous price stock drops since February and March. At their lowest stock price points in recent memory, Robinhood users clamored to buy as many of them as possible. No doubt, the expectation is that when the coronavirus pandemic is over, these giants will go back to normal stock price range, likely with the help of the government’s financial infusion.

A similar fate befell GoPro, currently holding the #10 spot. On March 17, its price fell to rock bottom, which is when Robinhood users started to buy it up, steadily increasing the stock price almost in parallel with the surge in users holding the stocks. The most recent dip in user count holding the stock, while GoPro’s stock price increases, shows that people are taking in the dough.

On the other hand, Tesla, holding the 8th position in popularity, shows trajectory much like Bitcoin. Few fluctuations here and there but, overall, always on the upward swing. And, just like Bitcoin, the alignment of user count with Tesla’s price surge, definitely shows a FOMO trend. Microsoft and Apple follow similar trajectory as Tesla.

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