Since surpassing the 10 million user mark in late 2019, investing app Robinhood has been all over the news. With shutdowns taking away entertainment options, coupled with record-low yields and interest rates, millennials have turned to trading en masse.
Not surprisingly, the new investors are making some waves. After Hertz filed for bankruptcy in May, Robinhood investors took that as a sign to buy the company’s stock, driving a 900% gain from its low (it didn’t last).
However, according to some, Robinhood traders have been beating the market significantly.
One thing is certain: If you decide to invest, be smart.
– Logan Armstrong, The Pittsburgh 100