Robinhood traders cash in on the market comeback that billionaire investors missed

[Bullitt]

Easy living. Hope these two enjoy tax time.

One 26-year-old Robinhood trader made $1,500 in less than 24 hours betting on a beaten-down airline stock, while many so-called experts on Wall Street warned about buying into an overvalued stock market that was bound to tumble again amid the coronavirus pandemic.

Last Thursday, Lequon Godbolt, purchased a call option for American Airlines that made him $200 on the millennial-favored stock trading app.

Pharmaceutical stocks were how Rodney Henderson, 27, has turned his sister’s $1,200 stimulus check into almost $10,000 since mid-April, the Chicago resident told CNBC.

Nikola getting slammed after speculative ramp.

Robinhood — which serves more than 10 million customers with an average client age of 31 — saw new investors piling into stay-at-home stocks and those most beaten down by the economic shutdown, like airlines, casinos and hotels. Traders also bought into speculative names like Hertz and Nikola.

https://www.cnbc.com/2020/06/09/rob...meback-that-billionaire-investors-missed.html

 

[Bullitt]

Robinhood head and shoulders above the rest in retail order flows. No more robintrack though. I don't think it was much good anyway and probably promoted taking on unnecessary risks in the hopes of easy money.

Darts = Daily Average Revenue Trades

[TH="class: news-rsf-table-string"]Company[/TH]
[TH="class: news-rsf-table-string"]June DARTs[/TH]

[TD="class: news-rsf-table-string"]Robinhood[/TD]
[TD="class: news-rsf-table-string"]4.31 million[/TD]

[TD="class: news-rsf-table-string"]TD Ameritrade[/TD]
[TD="class: news-rsf-table-string"]3.84 million[/TD]

[TD="class: news-rsf-table-string"]Interactive Brokers[/TD]
[TD="class: news-rsf-table-string"]1.86 million[/TD]

[TD="class: news-rsf-table-string"]Charles Schwab[/TD]
[TD="class: news-rsf-table-string"]1.8 million[/TD]

[TD="class: news-rsf-table-string"]E*Trade[/TD]
[TD="class: news-rsf-table-string"]1.1 million[/TD]

Robintrack used data from the app showing broad trends among Robinhood users’ trading to display which stocks were popular with its clients. The information became a proxy for the preferences of individual investors everywhere. Robinhood will stop providing the feed on which the site’s information is based out of concern that it misrepresents client activity. That could impact volumes for the third quarter,

https://www.bloomberg.com/news/arti...st-rivals-in-record-year-for-retail-investing