4 Ultra-Popular Robinhood Stocks That Could Drop 16% to 41%, According to Wall Street
Stock market volatility has been off the charts for much of 2020, but that hasn't fazed millennial investors one bit. We know this because millions of novice and millennial investors have signed up for a Robinhood account this year.
Online investing app Robinhood is well known for offering commission-free trades, gifting free shares of stock to new members, and allowing fractional share investing. But it's also gained a reputation for its exceptionally young user base, which averages only 31 years in age. While it's fantastic to see young people putting their money to work in the world's greatest wealth creator, many of these users lack the tools or knowledge to successfully invest for their future. As a result, Robinhood's leaderboard (the 100 most-held stocks on the platform) is littered with terrible stocks.
When I say "terrible," you might think I'm exaggerating. But according to Wall Street's consensus price targets, four of the 12 most-held stocks on Robinhood are expected to fall between 16% and 41%.
Source Fool.com