Popular Stories

Robinhood Users Flocked To These Industries During Early Months of Pandemic

The COVID-19 pandemic has seen a flock of new users join commission-free trading platform Robinhood. Data from UNSW Sydney shows what industries were most popular among Robinhood users from March 13 to July 31, the first months of widespread shutdowns in the U.S.

Airlines: Two of the most widely-owned stocks in the Russell 1000 for Robinhood users were American Airlines (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL), which ranked third and sixth respectively in the time period.

United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and JetBlue Airways Corporation (NASDAQ: JBLU) also ranked in the top 20 most widely-owned stocks.

American Airlines and Delta ranked first and second for total user growth in the time period, with both stocks adding more than 500,000 owners on Robinhood.

American Airlines saw the fourth largest single-day jump of any stock on June 5, adding over 33,000 owners on Robinhood.

Delta and American also ranked in the top five for most users lost in a day, with big losses on June 11.

Cruise Stocks: Three of the largest cruise stocks all ranked in the top 20 holdings of Robinhood users for the time period.

Carnival Corporation (NYSE: CCL), Norwegian Cruise Line Holdings (NYSE: NCLH) and Royal Caribbean Group (NYSE: RCL) ranked ninth, 11th and 16th respectively on the list.

Carnival was the fifth most added stock on the list, gaining over 400,000 owners.

Related Link: Robinhood Aims For Potential IPO In 2021: Report

Vaccine Plays: Moderna Inc (NASDAQ: MRNA) was the 15th most widely held stock during the time period.

Pfizer Inc (NASDAQ: PFE) was not one of the 20 most-held stocks on Robinhood but did see the largest single-day gain in users, with 42,442 adding the stock on July 23.

Moderna appeared three times on the top 10 biggest single-day gains list, at third, sixth and eighth.

Stocks Under $10: Robinhood users also targeted stocks trading for under $10. Ford Motor Company (NYSE: F) and General Electric (NYSE: GE) both trade under $10 and were the top two most widely-held stocks on Robinhood in the time period.

Marathon Oil Corporation (NYSE: MRO) was 19th on the list for most widely-held stocks on Robinhood and also trades under $10.

Why It’s Important: Tracking which stocks are seeing growth among Robinhood users could provide hints on which stocks may see jumps in share price and valuations based on demand.

Robinhood has said it is considering making user data public again. Robintrack.net previously offered an inside look at the top stocks on Robinhood.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

View Article Origin Here

Related Articles

Back to top button