Bloomberg reported that 10,000 day traders buy Tesla shares every hour. That number doesn’t mean a whole lot when 15 million Tesla shares trade in a typical day. But digging into the details gives us a good idea of what’s happening.
Forty thousand Robinhood accounts added shares of Tesla during a four-hour span on Monday. And while Robinhood might be the posterchild of the novice investor due to its popularity with millennials, I’d bet that TD Ameritrade, Charles Schwab and every other internet broker showed similar numbers.