Why it’s dangerous to compare Robinhood traders to billionaire investors
Robinhood has been making headline after headline on financial media lately. Following the coronavirus market meltdown, the millennial-focused trading app has seen a surge in new users and trades. And they seem to behave completely different from seasoned and institutional investors. Their creed? Buy the deepest dips! The hardest hit companies — especially those in the travel industry — have seen the highest increase in interest (or unique holdings among Robinhood users), according to Robintrack data. This is spanning from airlines, to cruise liners and entertainment parks (i.e. Disney), and now even bankrupt car rental company Hertz. Now, none of…
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