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Robinhood Traders Are Loading Up on Apple, Microsoft, and Tesla This Week

Traders on the popular brokerage platform made conviction bets in a handful of big names heading into the weekend. Here's the full list.

It’s time to take another look at the stocks retail investors love heading into this weekend. And this time, it’s different.

(For last week’s rundown, click here.)

Once again, we’re turning to the data from millennial-focused retail brokerage firm Robinhood.

Even though aggregated Robinhood assets are relatively small, they have market moving potential– particularly in an environment where passive investing makes up 45% of all U.S. fund assets, and given Robinhood traders’ focus on smaller names.

So, what are Robinhood traders buying and selling as we head into the weekend? Here’s a look.

First, these are the 25 biggest new buys on Robinhood this week:

new_buys_8_14_2020

The stocks in the heatmap above are the ones that saw the biggest increase in the number of users with positions. Bigger blocks mean that stocks are held by more Robinhood users.

Some of the big winners this week were big tech.

From the heatmap above, it’s clear that Apple  (AAPL) - Get Apple Inc. Report, Microsoft  (MSFT) - Get Microsoft Corporation Report, and Tesla  (TSLA) - Get Tesla Inc Report are three of the most widely-held stocks on the Robinhood platform right now (in fact, they’re #3, #4, and #8 most popular, respectively as of Thursday's close).

But what’s notable this week is that those three were also massive conviction bets.

The total number of users who own Apple increased by 13.4% last week. For Microsoft, the number was 13%, and for Tesla, it was about a 5% jump.

Click the chart above to open in a new window.

Click the chart above to open in a new window.

(For comparison, it’s more common for mega-cap names to see movement on the order of 2% on Robinhood in a given week.)

Also big on Robinhood users’ buy lists were Novavax  (NVAX) - Get Novavax, Inc. Report and Sorrento Therapeutics  (SRNE) - Get Sorrento Therapeutics, Inc. Report, which topped last week’s list and saw 15% and 17% spikes in ownership on the platform this week.

Footnote: As of 7pm Eastern Time yesterday, it looks like Robinhood has made good on their promise to discontinue user position data in their API. While we still have plenty of data to slice and dice for weeks and months to come, it’s been fun to have a real-time window into what traders on the platform were doing, and it’ll be missed. Stay tuned.