Robinhood users buy and hold companies ‘they know, understand and believe in for the long-term.’ Here are their favorite stocks.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

On Friday, the company unveiled the Robinhood Investor Index, which captures how customers invest based on the top 100 most owned stocks on the platform.

Tech companies, electric-vehicle makers and some meme stocks are part of the aggregate mix of equities inside the portfolios of Robinhood users, according to a new index from the brokerage app geared at new investors.

It all shows Robinhood users are buying — and holding onto — companies “they know, understand and believe in for the long-term,” the company said in a Friday morning announcement unveiling the Robinhood Investor Index. — Robinhood Investor Index “And to ensure that all customers are equally represented, we average conviction for each investment across all customers, whether they have $20 or $20 million in their account,” it added.

The Nasdaq COMP is down nearly 23% year to date. The Dow Jones Industrial Average DJIA is down almost 12% and the S&P 500 SPX is off by 15% in that period. Of course, there can be pitfalls in completely following what others do, but Quirk noted the index is just one data point to inform investors’ decisions.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines