3 Robinhood Stocks That Could Plummet 69% (or More), According to Wall Street
When stock market volatility strikes, the nail-biting often begins. But that's not been the case for millennial and/or novice investors. These young investors have been attracted like magnets to the market's volatility over the past year, and apparently the perception of getting rich quick.
Online investing app Robinhood, which is known for offering commission-free trades, fractional share investing, and gifts free shares of stock to new members, have been particularly adept at luring millennial investors. The average age of its user base is only 31, and Robinhood added an estimated 3 million new members last year.
While it's great to see young people putting their money to work in the world's greatest wealth creator, it's also terrifying to see the companies they've been buying. Instead of buying brand-name or innovative businesses, millennials and novice investors have been chasing momentum plays and penny stocks. Suffice it to say, Wall Street doesn't think too highly of their choices.
Source Fool.com
