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.
As you can guess, many of the platform’s users came out of the cryptocraze of 2017, and are millennials.
With money in the bank and volatility of cryptos, these millennials are piling there money into the stock market…
Here’s a list of small-cap stocks they’re buying…
#5. Ideanomics
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 ownership was accompanied by a 103% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
#4 Nikola Corp.
Nikola Corp. is a $22 billion Tesla competitor focused on developing a fleet of electric pickup trucks and 18-wheelers. Robintrack shows 20,396 Robinhood accounts bought shares in the company, bringing the total to 151,383 as of Thursday.
The 15% increase in Robinhood account ownership was accompanied by a 2% decrease in the stock price, signaling that Robinhood traders that are buying the stock are buying the dip.
Famed short-seller Andrew Left recently detailed why he expects the stock to fall 40% from current levels over the next month.
#3 Urban One
The $20 million micro-cap operates an urban-oriented multi-media business in the US. Robintrack shows 22,002 Robinhood accounts bought shares in the company, bringing the total to 23,673 as of Thursday.
The 1,316% increase in Robinhood account ownership was accompanied by a 252% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
#2 TOP Ships
The $67 million micro-cap company operates tanker vessels worldwide. Robintrack shows 25,926 Robinhood accounts bought shares in the company, bringing the total to 186,859 as of Thursday.
The 16% increase in Robinhood account ownership was accompanied with a 16% decline in the stock, signaling that Robinhood traders that are buying the stock are buying the dip.
#1 Genius Brands
Genius Brands was the most popular stock added to Robinhood accounts over the past week.
The $250 million small-cap develops and licenses animated children cartoons. Robintrack shows 30,449 Robinhood accounts bought shares in the company, bringing the total to 195,727 as of Thursday.
The 18% increase in Robinhood account ownership was accompanied by a 36% decline in the stock price, signaling that Robinhood traders that are buying the stock are buying the dip.
Near its peak, the children’s media company saw a 2,500% stock rally over the past two months.
