These are the 10 most popular stocks on Robinhood over the past week
- 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.
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.
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, based on data pulled from Robintrack on Monday afternoon.
10. Walmart
Walmart was the 10th most popular stock added to Robinhood accounts over the past week.
Robintrack shows 15,975 Robinhood accounts bought shares in the company over the past week, bringing the total to 93,649 as of Monday.
The 20% increase in Robinhood account ownership of Walmart was accompanied by a more than 8% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
9. Novavax
Novavax was the ninth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 17,984 Robinhood accounts bought shares in the company over the past week, bringing the total to 74,791 as of Monday.
Novavax skyrocketed last week after it was awarded a $1.6 billion contract from the US government.
The 32% increase in Robinhood account ownership of Novavax was accompanied by a 32% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
8. Microsoft
Microsoft was the eighth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 25,037 Robinhood accounts bought shares in the company over the past week, bringing the total to 526,766 as of Monday.
The 5% increase in Robinhood account ownership of Microsoft was accompanied by a 0.5% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
7. Everi
Everi was the seventh most popular stock added to Robinhood accounts over the past week.
Robintrack shows 25,236 Robinhood accounts bought shares in the company over the past week, bringing the total to 77,818 as of Monday.
The 48% increase in Robinhood account ownership of Everi was accompanied by a more than 7% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
6. Netflix
Netflix was the sixth most popular stock added to Robinhood accounts over the past week.
The video-streaming company was upgraded by Goldman Sachs last week as it said the company could surge 32%.
Robintrack shows 29,430 Robinhood accounts bought shares in the company over the past week, bringing the total to 184,820 as of Monday.
The 19% increase in Robinhood account ownership of Netflix was accompanied by a more than 12% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
5. Apple
Apple was the fifth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 35,245 Robinhood accounts bought shares in the company over the past week, bringing the total to 537,092 as of Monday.
The 7% increase in Robinhood account ownership of Apple was accompanied by a more than 4% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
4. Amazon
Amazon was the fourth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 42,441 Robinhood accounts bought shares in the company over the past week, bringing the total to 357,690 as of Monday.
The 13% increase in Robinhood account ownership of Amazon was accompanied by a more than 5% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
3. Spartan Energy
Spartan Energy was the third most popular stock added to Robinhood accounts over the past week.
Spartan Energy is a "blank check" company that announced its acquisition of electric vehicle developed Fisker Inc on Monday.
Robintrack shows 49,104 Robinhood accounts bought shares in the company over the past week, bringing the total to 49,720 as of Monday.
The 7,971% increase in Robinhood account ownership of Spartan Energy was accompanied by a more than 40% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
2. Nio
Nio was the second most popular stock added to Robinhood accounts over the past week.
Robintrack shows 68,008 Robinhood accounts bought shares in the company over the past week, bringing the total to 283,133 as of Monday.
The 32% increase in Robinhood account ownership of Nio was accompanied by a more than 27% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
1. Tesla
Tesla was the most popular stock added to Robinhood accounts over the past week.
Robintrack shows 80,730 Robinhood accounts bought shares in the company over the past week, bringing the total to 450,368 as of Monday.
The 22% increase in Robinhood account ownership of Tesla was accompanied by a more than 22% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.