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- 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 most popular stocks on Robinhood in the month of June.
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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 utilizes data from Robinhood's API to track how many Robinhood users own a particular stock over time. Robintrack was created as a side project by a college student in 2018.
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.
Read more: Stock analysts are having a moment in the sun as the market gets flipped upside down. We spoke to 11 of the top-ranked on Wall Street to get their forecasts and single-stock picks.
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 most popular stocks among Robinhood users in the month of June.