Robinhood is like a social media investment platform. Traders on Robinhood are very vocal about what they are buying and they tend to tailgate each other. When one stock is getting hot on this investing platform, many people tend to drift towards it.
Robinhood traders are very active and they are mostly betting against billionaires like Warren Buffet and Carl Icahn. They are doing this by buying stocks while billionaires are selling. Although these trading pattern is working well for Robinhood traders, and they are cashing in big. It may not be a good practice to be too optimistic about the market.
The market is trading higher while many things are going on that may affect the stock market negatively. The unrest from Black lives matter protest, Covid-19 layoff, and many companies filing for bankruptcy. In the midst of all these negatives, traders continue to remain optimistic about future market growth.
Here is a look at some of the activities on Robinhood, the trades, the hype, and the way they are making money while some billionaires and other money managers are missing out because they think the market is overbought.
Top stocks Robinhood members bought in the past month
According to Robintrack, based on trading volumes as of June 5
|Ticker||Stock||One month return|
|GNUS||Genius Brands International||787.9%|
|AAL||American Airlines Group||100.3%|
|LTM||LATAM Airlines Group||-8.2%|
|IVR||Invesco Mortgage Capital||192%|
These stocks are for information purposes only, it does not mean that Investingport endorses them as a buy. Please do your due diligence before buying the stocks listed above.
The stock market has been going up over the past few days and the S%P 500 index has regained all of the losses it suffered during the unset of the coronavirus pandemic. Some stock prices have gone from 52 weeks new low to 52 weeks highs, and some bankruptcy pending companies are also seeing gains.