Robinhood’s Popular $14 Stock
I’m sure you’ve heard the news…
Major online brokers such as Charles Schwab, TD Ameritrade, E-Trade and Robinhood have experienced eye-popping growth in new account holders.
Across the board, these brokers are reporting as much as 170% growth in the first quarter of 2020.
- Charles Schwab saw more than 280,000 new accounts opened in March.
- E-Trade saw more than 363,000 new accounts in the quarter.
- And Robinhood, who focuses on millennials, saw an eye-popping 3 million new accounts in the first quarter.
These are stunning numbers.
Charles Schwab CEO Walt Bettinger said it’s seeing “monumental volumes” of trading.
Its past quarter included 27 of the 30 highest-volume days in Schwab’s history.
And no wonder…
When you can trade from the palm of your hand – and there are no longer any barriers to entry or trading commissions – why wouldn’t you start trading?
Clearly, the trading game is changing.
And that’s an opportunity we’ll explore and profit from today.
You see, according to data from Robintrack, one of the most popular stock holdings on Robinhood is Aurora Cannabis (NYSE: ACB).
Its volume engulfs the second-most-popular holding, Ford Motor Company, by nearly 2-to-1.
Apparently, millennials believe that Aurora Cannabis has now weathered the storm in the cannabis sector – and the producer and distributer of medical cannabis products is now back on track.
Action Plan: From a chart perspective, the $13 support level might be strong enough to trigger the next bounce.
But more importantly, whenever you have a cult following of users – like Robinhood investors – buying on each dip, it can be worth hitching a ride on the play. That’s why buying a light position on Aurora Cannabis at these levels now makes sense.
Do you want to trade stocks like this alongside other War Room members? If so, then you’re invited to join my elite trading group today!