Volatility isn’t something that the typical investor looks forward to. But over the past year, we’ve learned that millennials aren’t like typical investors.
Online investing app Robinhood, which is well-known for offering commission-free trades, fractional share investing, and gifts free shares of stock to new members, gained 3 million new users last year. With an average age of 31 for its user base, Robinhood’s investing platform has acted as lightning rod for young investors.
Perhaps the most interesting aspect of Robinhood is the relative transparency of its platform. Nearly every day, Robinhood updates its leaderboard, which is a snapshot of the 100 most-held stocks on the platform. This gives Wall Street and Main Street an under-the-hood look at what stocks have the attention of millennial investors.