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.
10. Uber
Uber was the 10th most popular stock added to Robinhood accounts over the past week.
The ride-hailing company announced its acquisition of Postmates today for $2.6 billion.
Robintrack shows 16,188 Robinhood accounts bought shares in the company over the past week, bringing the total to 248,220 as of Monday.
The 7% increase in Robinhood account ownership of Uber 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.
9. Genius Brands
Genius Brands was the ninth most popular stock added to Robinhood accounts over the past week.
The children's media company saw a more than 2,500% surge from May to June after the company struck a licensing deal with Amazon for its kids TV show "Superhero Kindergarten."
Robintrack shows 18,616 Robinhood accounts bought shares in the company over the past week, bringing the total to 201,810 as of Monday.
The 10% increase in Robinhood account ownership of Genius Brands was accompanied by a 56% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
8. The Gap
The Gap was the eighth most popular stock added to Robinhood accounts over the past week.
Gap surged 42% last month after the company announced a 10-year deal with Kanye West. Over the weekend, Kanye West announced that he is running for president in 2020.
Robintrack shows 18,907 Robinhood accounts bought shares in the company over the past week, bringing the total to 96,208 as of Monday.
The 24% increase in Robinhood account ownership of The Gap was accompanied by a 6% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
7. Pfizer
Pfizer was the seventh most popular stock added to Robinhood accounts over the past week.
Pfizer surged 6% last week after the company released positive data from a clinical trial evaluating the effectiveness of its COVID-19 vaccine.
Robintrack shows 18,943 Robinhood accounts bought shares in the company over the past week, bringing the total to 109,261 as of Monday.
The 21% increase in Robinhood account ownership of Pfizer was accompanied by a 9% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
6. Landcadia Holdings II
Landcadia Holdings II was the sixth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 21,493 Robinhood accounts bought shares in the company over the past week, bringing the total to 22,899 as of Monday.
The 1,528% increase in Robinhood account ownership of Landcadia Holdings II was accompanied by a 49% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
5. Amazon
Amazon was the fifth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 25,270 Robinhood accounts bought shares in the company over the past week, bringing the total to 309,839 as of Monday.
The 9% increase in Robinhood account ownership of Amazon was accompanied by a 12% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
4. Tesla
Tesla was the fourth most popular stock added to Robinhood accounts over the past week.
Tesla recently overtook Toyota to become the most valuable auto manufacturer in the world.
Robintrack shows 33,089 Robinhood accounts bought shares in the company over the past week, bringing the total to 352,869 as of Monday.
The 10% increase in Robinhood account ownership of Tesla was accompanied by a 40% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
3. Plug Power
Plug Power was the third most popular stock added to Robinhood accounts over the past week.
Robintrack shows 35,694 Robinhood accounts bought shares in the company over the past week, bringing the total to 382,964 as of Monday.
The 10% increase in Robinhood account ownership of Plug Power was accompanied by a 53% 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 37,087 Robinhood accounts bought shares in the company over the past week, bringing the total to 199,504 as of Monday.
The 23% increase in Robinhood account ownership of Nio was accompanied by a 78% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
1. Workhorse
Workhorse was the most popular stock added to Robinhood accounts over the past week.
Workhorse surged more than 700% in June as investors bid up electric vehicle companies in hopes of riding some of the momentum that Tesla shareholders are enjoying.
Robintrack shows 73,137 Robinhood accounts bought shares in the company over the past week, bringing the total to 145,320 as of Monday.
The 101% increase in Robinhood account ownership of Workhorse was accompanied by a 116% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
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