When Stanford grads Vladimir Tenev and Baiju Bhatt set out to launch the trading app Robinhood, they were aiming to provide a platform that was more accessible for beginner investors than traditional brokerage firms.
Robinhood doesn’t charge a brokerage fee when a user buys or sells a stock. And it doesn’t require a minimum deposit to open an account.
The company’s low-cost, easy-to-use platform — users can start trading within minutes of opening an account — has cemented its popularity among millennials. The company has more than a million users, who combined have transacted over $25 billion on the platform, according to the firm.
We asked Robinhood to identify the 10 most popular stocks by percentage of ownership among its users. As you will see, some of those stocks have performed better than others:
10) Bank of America: 4.6%
1-Year Performance: 86.6%
9) Microsoft: 4.8%
1-Year Performance: 28.4%
8) Fitbit: 6.1%
1-Year Performance: -59.8%