Robinhood Investors Are Head-Over-Heels in Love With This Trend
For nearly a year, stock market volatility has been well above historical norms. However, this hasn't bothered millennial and novice investors one bit.
Robinhood, the online investing app known for offering commission-free trades and giving shares of stock to new users, added roughly 3 million new users in 2020. This is noteworthy given that the average age of Robinhood's users is 31. The platform has become a magnet for young investors to put their money to work in the market.
It's great to see millennials investing in the greatest long-term wealth creator on the planet. At the same time, it's terrifying to see what they're buying. On Wall Street, the phrase "Robinhood investor" has become synonymous with young traders chasing momentum or penny stocks, rather than quality companies.
Source Fool.com
