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Robinhood traders have no impact on the stock market, one study shows - Business Insider

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Billionaires keep blaming Robinhood traders for skewing stock prices. But a new study shows the upstarts have minimal impact on the overall market.

published by Nick Maggiulli, the chief operating officer at Ritholtz Wealth Management.

Maggiulli wanted to test "whether an increase in Robinhood users holding a stock was met with a similar increase in that stock's price," according to the study. Ford, for example, the most popular stock on the Robinhood platform, had a correlation of near zero, meaning the daily change in Robinhood account ownership had no impact on the daily change in Ford's stock price.

Smaller, speculative names like Kodak, Nikola, and Hertz had a higher correlation than bigger companies like Amazon, Google, and Tesla."Since these are higher market cap stocks, it's possible that even lots of volume from Robinhood traders can't move the market, compared to, say, a stock like Hertz, which is trending toward being worth $0," Maggiulli explained.

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Billionaires are never happy! Thankfully I’ll stay at the millionaire mark💪

We're getting closer...move over. 😉😎🔝🔜

Such actions actually affect crypto to a small extent

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