Barclays analyzed Robinhood customer holdings and compared them to daily market returns and concluded that there's “no clear relationship” between retail investors adding shares and S&P 500 index moves.
The idea that new investors using zero-cost brokerage firms like Robinhood were driving up the market has become a popular narrative on Wall Street.
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Robinhood traders are not behind the market's recent rally, Barclays says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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