3 Robinhood Stocks That Turned $100,000 Into $1 Million in 2020
When the calendar is finally turned on 2020 in a matter of days, it'll end one of the craziest years in stock market history. The benchmark S&P 500 lost over a third of its value in mere weeks during the first quarter and has spent the past nine months in all-out rally mode. Though this volatility can be unnerving for some, Robinhood investors have loved every minute of it.
Online investing app Robinhood, which is well known for its commission-free trading platform and for offering free shares of stock to new users, has done a particularly good job of attracting young investors. Millions of people have joined the trading platform in 2020, with the average age of Robinhood's user base only 31.
On one hand, it's great to see young investors leveraging their time and putting their money to work in the world's greatest wealth creator. On the other hand, these millennial investors often lack the tools and understanding needed to invest successfully. This is why Robinhood's leaderboard (the 100 most-held stocks on the platform) is often filled with less-than-desirable companies.
Source Fool.com