This year has been one that most investors will not soon forget. The outbreak of the COVID-19 pandemic brought the fastest bear market in history, followed by rapid recovery – and even higher levels for some of the largest and best-known stocks.
At the same time, online stock trading app Robinhood has increased in popularity, especially with young, disgruntled investors who quickly move to the platform in Drum, hoping to capitalize on the once-in-a-lifetime investment opportunity.
While not all of his favorite picks are worthwhile (and some are actually very risky), Robinhood investors are taking out their hard-earned cash on these high-growth stocks during the 30-day period ended July 27, 2020.
Tesla Stock Inspired
Without a doubt, Robinhood has been the most popular stock electric vehicle (EV) manufacturer among investors in the last 30 days. Tesla (NASDAQ: TSLA). 217,873 shares of the platform’s investors added Tesla to their accounts in the previous month, bringing the total to 537,244. This surge in popularity has made the company the eighth most popular stock among members of the Investments app.
Tesla’s recent impressive rally leaves Robinhood investors no doubt. Even after a one-time rebound in the last few days of trading days, the stock has still gained an impressive 49% in the last month alone and 242% so far in 2020.
Tesla made headlines in recent weeks as it surpassed several major milestones for the company’s future, while also helping the line’s founder, Elon Musk’s pocket, in the process. The electric car manufacturer qualified the stock for its fourth consecutive quarter of GAAP profitability during its second quarter financial report last week. S&P 500.
A recent electrification rally pushed Telsa’s stock above the $ 300 billion market cap, although it has cooled somewhat over the past several days. The stock’s performance has resulted in an attractive passion for Musk, making him eligible for an additional 1.69 million stock options. With a strike price of about $ 350, esoteric inventors can pay more than $ 2 billion, although he is prohibited from selling shares for the next five years.
Those metrics help illustrate the bright future ahead for Tesla, so it’s little wonder that Robinhood investors have EV carmakers at the top of their list.
Buy amazon stock
Another stock that has been a big hit with Robinhood investors in the last 30 days is the e-commerce giant Amazon.Com (NASDAQ: AMZN), 117,908 investors were attracted in the previous month. This makes the tech giant the twelfth most popular holding among Robinhood members.
Amazon has been under discussion since the coronavirus pandemic, leaving no doubt in the company’s mind to add Robinhood investors to its portfolio. The company also saw an increase in online retail orders from sheltered consumers. The demand for Amazon Web Services (AWS) – its cloud computing service – has also increased as companies around the world scramble to adopt remote work. Amazon Prime Video and Music has also helped entertain families stuck at home.
The tech titan is due to report its second-quarter earnings later this week, and it’s not a question of whether Amazon’s business will grow, but by how much. During the first quarter, revenue growth increased to 26% year-over-year, from 17% in the prior-year quarter, and the third quarter marked the highest pace of growth since 2018. CEO Jeff Bezos said that Amazon plans to spend all it expects to have a $ 4 billion operating profit, and possibly more, “on COVID-related expenses, getting products to customers, and securing employees.”
Robinhood investors also have no doubt about Amazon’s rising stock price, which has rallied more than 64% so far in 2020, easily offsetting the broken performance of the S&P 500. NASDAQ, Which has increased by about 16%.
With many growth generators and epidemics to overcome, it is easy to see why Robinhood investors are getting such a complicated purchase to Amazon.
A piece of apple stock
Robinhood is another high-stock stock hit with investors and none Apple (NASDAQ: AAPL). Given the affinity for Tech Titan’s devices to millennial consumers, it is little wonder that 89,346 Robinhood investors have added Apple to their plate in the last 30 days. This makes the equipment manufacturer the sixth most popular stock on the investment platform.
While iconic iPhone sales increased last quarter, there are many other growth drivers that are bringing Robinhood investors back to Apple well. Earlier this year, Apple reintroduced its budget-conscious device iPhone SE, giving consumers the option of another smartphone.
Additionally, the company’s services and weaving categories have helped to take slack steps. In the last four quarters, Apple’s services segment has generated more than $ 50 billion in revenue, accounting for more than 18% of the tech giant’s total sales. At the same time, the wearables, home, and accessories segment generated more than $ 28 billion and accounted for about 11% of Apple’s total revenue.
Sales rose more in Apple’s fiscal second quarter (ending March 28, 2020), climbing 1% year-on-year, while services revenue reached a new all-time high and Wearables set a new quarterly record. This combination of growth drivers has helped Apple achieve 28% so far this year.
Robinhood investors have no doubt over Apple’s continued prospects and current performance, making the iconic device maker a favorite among Robinhood investors.