Dumb Money Making Smart Stock Picks in Yearlong Robinhood Rally
- Robinhood traders buying low, selling high this year: Bespoke
- Investors ‘very dynamic in the way they trade’: Primozic
Source: Robinhood Inc.
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One unexpected casualty of the 2020 market will be the popular notion that the pros have it over the amateurs when it comes to choosing stocks.
Top holdings by traders on the Robinhood retail app since the start of the year are up more than 1% on average, compared with a decline of 7% for the typical S&P 500 constituent. An analysis by Bespoke Investment Group shows that stocks usually attract a following on the platform after they suffer big drops, suggesting its newbie day-traders are succeeding at investing’s hardest task: Buying low and selling high.