The stocks millennials love more than people over 30 do, according to trading app Robinhood

Advertisement

snap banner

Business Insider

Robinhood, the app that lets you trade stocks without paying fees, has been a runaway hit with millennials, who have driven the startup to a reported $1.3 billion valuation.

Advertisement

The thinking behind Robinhood was that younger people would want to trade stocks differently: namely on their phones and without the fees. But are the stocks they trade different as well?

To answer that question, we asked Dr. Sahill Poddar, a data scientist at Robinhood, to crunch the numbers. By and large, the top stocks millennials held by dollar amount were similar, but they were almost twice as likely to hold computer chip designers AMD and Nvidia as older people were. Conversely, those over 30 were almost twice as likely to hold Yahoo.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

In terms of the top 10 stocks, Twitter and gold (via JNUG) made the over-30 list, but didn't appear on the under-30 one, whereas Google (GOOGL) saw the reverse.

"Overall, millennials trade more often than non-millennials (2.75 times more), but the average dollar amount per trade is half," according to Poddar.

Advertisement

It's worth noting that Robinhood is a new platform, so you might expect the stocks to skew toward things like technology. But still, the differences between the under- and over-30 crowd are instructive in understanding what different generations think of the stocks.

With that in mind, here are the top 10 stocks millennials love on Robinhood (by dollar amount):