Reuters / Scott Olson
- Robinhood, the zero-commission brokerage platform that is popular with millenials, has seen a surge in trading volume as the market entered a volatile period due to the coronavirus pandemic.
- Robintrack is a platform that uses data from Robinhood's API to track how many of its users own a particular stock over time.
- The compiled data is put into a charting format that helps show the relationship between the price of a stock and popularity with Robinhood users.
- Here are the 10 stocks on Robinhood that saw the largest increase in user ownership over the last week.
- Visit Business Insider's homepage for more stories.
Robinhood, the zero-commission brokerage platform that's popular with millenials, has seen a surge in trading volume as the stock market entered a volatile period due to the coronavirus pandemic.
Robintrack is a platform that uses data from Robinhood's API to track how many Robinhood users own a particular stock over time. The platform was developed by a college senior and has seen a surge in popularity over the past few months.
The compiled data is put into a charting format that helps show the relationship between the price of a stock and its popularity with Robinhood users.
Read more: Wall Street's best US and international stock pickers have tripled their clients' money since 2010. The duo break down 5 future-proof companies that could keep investors ahead of the pack through 2030.
The data helps identify stocks where investors are either:
- Buying the dip, which is apparent when the number of Robinhood account users owning a particular stock surges as the stock price falls.
- Taking profits, which is apparent when the number of Robinhood account users owning a particular stock falls as the stock price rises.
- Going full FOMO, which is apparent when the number of Robinhood account users owning a particular stock rises as the stock price rises.
- Jumping ship, which is apparent when the number of Robinhood account users owning a particular stock falls as the stock price falls.
The data is also helpful for contrarian investors to go against the herd and identify popular stocks to sell short or unpopular stocks to buy long.
Here are the 10 stocks on Robinhood that saw the largest increase in user ownership over the last week.
10. Urban One
Markets Insider
Urban One was the 10th most popular stock added to Robinhood accounts over the past week.
The $20 million micro-cap operates an urban-oriented multi-media business in the US. Robintrack shows 17,038 Robinhood accounts bought shares in the company, bringing the total to 19,333 as of Thursday.
The 742% increase in Robinhood account ownership was accompanied by a more than 600% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
9. Ideanomics
Robintrack.net
Ideanomics was the ninth most popular stock added to Robinhood accounts over the past week.
Ideanomics is a $323 million small-cap technology company. Robintrack shows 19,140 Robinhood accounts bought shares in the company, bringing the total to 48,620 as of Thursday.
The 64% increase in Robinhood account ownership was accompanied by a 103% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
8. Nikola Corp.
Robintrack.net
Nikola Corp. was the eighth most popular stock added to Robinhood accounts over the past week.
Nikola Corp. is a $22 billion Tesla competitor focused on developing a fleet of electric pickup trucks and 18-wheelers. Robintrack shows 20,396 Robinhood accounts bought shares in the company, bringing the total to 151,383 as of Thursday.
The 15% increase in Robinhood account ownership was accompanied by a 2% decrease in the stock price, signaling that Robinhood traders that are buying the stock are buying the dip.
Famed short-seller Andrew Left recently detailed why he expects the stock to fall 40% from current levels over the next month.
7. Urban One
Markets Insider
Urban One's UONEK share class was the seventh most popular stock added to Robinhood accounts over the past week.
The $20 million micro-cap operates an urban-oriented multi-media business in the US. Robintrack shows 22,002 Robinhood accounts bought shares in the company, bringing the total to 23,673 as of Thursday.
The 1,316% increase in Robinhood account ownership was accompanied by a 252% increase in the stock price, signaling that Robinhood traders that are buying the stock are going full FOMO.
6. Tesla
Robintrack.net
Tesla was the sixth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 23,028 Robinhood accounts bought shares in the company, bringing the total to 296,602 as of Thursday.
The 8% increase in Robinhood account ownership was accompanied by a 1% decrease in the stock price, signaling that Robinhood traders that are buying the stock are buying the dip in Tesla.
Tesla recently soared to all-time highs after the company said to employees that they would try to start scaling the production of its electric Semi truck.
5. Disney
Robintrack.net
Disney was the fifth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 24,243 Robinhood accounts bought shares in the company, bringing the total to 611,884 as of Thursday.
The 4% increase in Robinhood account ownership was accompanied by a 3% decline in the stock price, signaling that Robinhood traders that are buying the stock are buying the dip.
4. Amazon
Robintrack.net
Amazon was the fourth most popular stock added to Robinhood accounts over the past week.
Robintrack shows 24,903 Robinhood accounts bought shares in the company, bringing the total to 248,686 as of Thursday.
The 11% increase in Robinhood account ownership was accompanied with flat price action in the stock, signaling that Robinhood traders that are buying the stock continue to add in anticipation of further price gains.
3. TOP Ships
Robintrack.net
TOP Ships was the third most popular stock added to Robinhood accounts over the past week.
The $67 million micro-cap company operates tanker vessels worldwide. Robintrack shows 25,926 Robinhood accounts bought shares in the company, bringing the total to 186,859 as of Thursday.
The 16% increase in Robinhood account ownership was accompanied with a 16% decline in the stock, signaling that Robinhood traders that are buying the stock are buying the dip.
2. Apple
Robintrack.net
Apple was the second most popular stock added to Robinhood accounts over the past week.
Robintrack shows 29,614 Robinhood accounts bought shares in the company, bringing the total to 447,956 as of Thursday.
The 7% increase in Robinhood account ownership was accompanied with flat price action in the stock, signaling that Robinhood traders that are buying the stock continue to add in anticipation of further price gains.
Apple recently hit all-time highs and RBC upgraded the stock, saying it can rise 11% from current levels.
1. Genius Brands
Robintrack.net
Genius Brands was the most popular stock added to Robinhood accounts over the past week.
The $250 million small-cap develops and licenses animated children cartoons. Robintrack shows 30,449 Robinhood accounts bought shares in the company, bringing the total to 195,727 as of Thursday.
The 18% increase in Robinhood account ownership was accompanied by a 36% decline in the stock price, signaling that Robinhood traders that are buying the stock are buying the dip.
Near its peak, the children's media company saw a 2,500% stock rally over the past two months.
