It has become pretty clear that Robinhood traders — and top Robinhood stocks — are a force to be reckoned with.
In case you don’t already know, Robinhood is a free-trading app and website that offers people the ability to trade stocks, options, ETFs and cryptocurrency without commissions or fees. The app is designed to help traders (first time or experienced) build up experience with the stock market.
The platform gained wide attention earlier this year when traders bought up huge amounts of stock from weak companies, pushing their prices far outside of what fundamentals supported. But despite that, serious traders and investors should keep track of what the Robinhood gang is doing…
And I have found two hot Robinhood stocks that really stand out…
2 Hot Robinhood Stocks Gaining Momentum
Like it or not, Robinhood is one of the fastest growing trading platforms. It has already scaled up to 13 million users this year.
Despite multiple shortcomings, blackouts and glitches on the app, new traders remain hooked by its ease of use and accessibility. And with other competitors like Webull beginning to hit mainstream investors and boasting opportunities to gain free shares of stock, these apps are changing the gamification of the stock market.
They’re also fueling a rise in the popularity of penny stocks…
You see, the COVID-19 outbreak has created new penny stocks that have traders shook. Some of the bigger names that typically trade above $10 a share crumpled earlier this year, and are now trading under $5.
And at a seemingly steep discount, novice traders are flocking to get their piece of the pie.
In fact, the Wall Street Journal recently reported some eye opening statistics. Retail activity accounted for almost 20% of trading volume this year, nearly doubling the level of 2010. The journal also cited data on Robinhood’s competitor, Webull. It’s said that 56% of the U.S.. stock trades Webull handled this year were in stocks under $5 per share.
Even JMP Group LCC (NYSE: JMP) estimated that 10 million new online brokerage accounts have been created in 2020, half of them coming from Robinhood alone.
In today’s video, I’m giving away two hot Robinhood stocks that are not only trading below the $5 mark, but also could see a major spike in the upcoming quarter.
After you watch the video below, share your thoughts in the comment section below. Do you have an account on Robinhood or Webull, and if so, what are your favorite features on the either app? Do you like to trade penny stocks, and would you consider trading the two hot Robinhood stocks I just mentioned?