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10 Stocks Robinhood Users Are Trading During The Pandemic

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10 Stocks Robinhood Users Are Trading During The Pandemic

Commission-free investing app Robinhood has gained a large number of new users during the coronvirus pandemic.

A new study from Australian university UNSW Sydney reveals what the largest stock holdings are among Robinhood users during the global crisis. 

The study tracked the movement and ownership of stocks in the Russell 1000 from March 13 through July 31.

The top 10 stocks held by Robinhood users during the time period were:

  • Ford Motor Company (NYSE: F)
  • General Electric (NYSE: GE)
  • American Airlines (NASDAQ: AAL)
  • Walt Disney Company (NYSE: DIS)
  • Apple Inc (NASDAQ: AAPL)
  • Delta Air Lines (NYSE: DAL)
  • Microsoft Corporation (NASDAQ: MSFT)
  • Tesla Inc (NASDAQ: TSLA)
  • Carnival Corporation (NYSE: CCL)
  • Amazon.com Inc (NASDAQ: AMZN)

Related Link: Robinhood Co-Founder Vladimir Tenev Talks Young Investors With Jim Cramer

What Happened: American Airlines led the way for ownership growth by app users in the time period, followed by Delta Air Lines, General Electric and Ford.

Tesla saw the second biggest single-day jump in users adding the name on July 14 and also ranked among the top 10 biggest single-day jumps on July 7.

Ford had two of the top 10 single-day biggest jumps for user ownership growth on March 25 and March 26. Ford ranked fifth of all companies in the report, with 79% of days seeing positive ownership growth.

Why It’s Important: The data from the report and old Robinhood tracking site robintrack.net allows an overall look at what stocks are seeing new users flock to them. The data can be used to show possible share price gains based on volume and new Robinhood users willing to get into the names.

Robinhood said recently they are considering making user data public again.

 

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