4 Robinhood Stocks Billionaires Bought in Q3
It's been an exceptionally volatile year for the stock market, and that's been music to the ears of millennial and novice investors who envision getting rich quick on these wild vacillations. Online investing app Robinhood, which is known for its commission-free trades, fractional share investing, and gifting of stock to new members, has gained millions of new users in 2020 -- yet the average age of its user base is only 31.
While it's great to see young people using time as leverage to invest for their future, it's also unnerving that Robinhood hasn't given these millennial and novice investors the tools needed to truly succeed. Many don't understand the importance of long-term investing or compounding, and have instead chosen to chase penny stocks or otherwise awful companies.
Yet you might be surprised to learn that some of the most widely held Robinhood stocks were purchased hand over fist by billionaire money managers during the third quarter. Here are four of the most sought-after Robinhood stocks in Q3.
Source Fool.com
