Whereas most investors shy away from volatility, young investors covet it. With a penchant for risk and a mindset to get rich quick, millennial and/or novice investors have piled into the stock market over the past year.
For many of these young investors, online investing app Robinhood is their brokerage of choice. Robinhood is known for its commission-free trades, fraction-share investing, and the gifting of free shares of stock to new members.
Another thing Robinhood is known for is transparency. Robinhood regularly updates its leaderboard — i.e., the 100 most-held securities (including exchange-traded funds) on the platform. This provides an under-the-hood and practically real-time look at what retail investors are buying and possibly selling.