These Are the Stocks That Robinhood Traders Are Buying into the Weekend

Jonas Elmerraji, CMT

In the last few years, commission-free millennial-focused retail brokerage firm Robinhood has emerged as a powerful force in the market.

That’s only been magnified in the volatile trading environment of 2020.

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.

Any insane market moves we’ve seen in 2020 has been sure to have massive participation from Robinhood traders…

(I’m looking at you Kodak (KODK) -Get Report – and the more than 63,000 Robinhood users who held shares during its 2,000%+ surge.)

So much so, that Robinhood has become a synonym for retail trading activity at this point.

Robinhood isn’t just unique because of its customer base and business model – it’s also much more transparent with its data.

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

First, these are the top 25 stocks held by Robinhood users today:

top_25_rh

In the heat map above, the size of each block represents each stock’s relative number of holders, and the color represents how those positions have changed in the last 24 hours.

While mega-caps like Ford (F) -Get Report, Amazon (AMZN) -Get Report and Apple (AAPL) -Get Report certainly have a big share of that top 25 list, it’s a pretty huge departure from a boring market-cap weighted index.

Within the biggest 100 holdings on the platform, these are the stocks that Robinhood traders have been buying in the last 24 hours:

rh_new_buys

In terms of net new positions, Apple (AAPL) -Get Report, AMD (AMD) -Get Report, Inovio (INO) -Get Report, General Electric (GE) -Get Report, Bank of America (BAC) -Get Report, and Aphria (APHA) -Get Report make up the top six biggest new additions.

Here’s the sell list:

rh_sells

By far, the biggest sell over the last day was Kodak – Robinhood users dumped about 7% of their positions in the last 24 hours.

Other big sells were Ford (F) -Get Report, Microsoft (MSFT) -Get Report, Tesla (TSLA) -Get Report, Facebook (FB) -Get Report, Snap (SNAP) -Get Report, and Pfizer (PFE) -Get Report.

Robinhood users have been cutting back a bit on many of their biggest positions in the last day (minus the big buying in Apple post-earnings), so with the exception of Kodak, most of that selling looks like de-risking heading into the weekend versus conviction selling.

Stay tuned. I’ll be slicing and dicing more Robinhood data in the days to come. 

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