Millennials were buying Ford (NYSE: F) and Inovio Pharmaceuticals (NASDAQ: INO) stock in droves during last month’s market crash due to the ongoing coronavirus.
According to a report by The Street, Millenials were interested in going long on car manufacturing stocks such as Tesla and Ford in addition to the vaccine maker Inovio. Robinhood, a commission-free mobile-based stock trading platform popular among millennial investors that also offers cryptocurrencies, recorded a massive jump in volume last month amidst the market meltdown.
Co-CEO Vlad Tenev told Jim Cramer’s The Street that Robinhood was seeing trading volumes up 300% from the beginning of the year.
Tenev revealed that Robinhood investors have been adding more money to their accounts in aggregate and are going long on stocks. The platform’s investors have been active in top-performing companies such as TSLA as well as stocks they believe to be oversold, such as Disney (NYSE: DIS) and Carnival (NYSE: CCL).
According to Tenev, the top 10 stocks purchased last month were:
- Inovio (INO)
- Ford Motor (F)
- Aurora Cannabis (ACB)
- Disney (DIS)
- Microsoft (MSFT)
- American Airlines (AAL)
- Boeing (BA)
- Carnival Corp. (CCL)
- General Electric (GE)
- Tesla (TSLA)
Featured Image Credit: Photo via Pixabay.com