Robinhood has been the most used platform by Millennials for stock trading due to its zero-commissions policy. As more and more Millennials are starting to take an active interest in the stock markets, the Robinhood platform has climbed to more than 13 million users. This can be attributed to the rallying stock market over the last two quarters despite economic weakness. With rising rates of…
unemployment and remote working freeing up more screen time, a large proportion of millennials have taken up active trading.
It should be no surprise that the tech savvy generation has taken a liking to some of the biggest tech stocks in the world. While many investors are shifting their focus to outdoor stocks in light of recent coronavirus vaccine approval and a potential broad rollout of vaccinations very soon, Millennials have been taking advantage of the market dip because they expect the prices to rebound in the foreseeable future.
While the vaccine’s development did lead to a tech sell-off last month, analysts expect big names in this sector to recover quickly as the services offered by these companies are likely to remain in demand.
With most millennials trading heavily in the biggest tech companies, Amazon.com, Inc. (AMZN – Get Rating), Visa, Inc. (V – Get Rating) and Sony Corporation (SNE – Get Rating) have secured their position in the top 20 of 100 most popular stocks on the Robinhood platform.
As the largest e-commerce company in the world, AMZN has been one of the biggest gainers in the pandemic. With average trading volume of 4.82 million, AMZN is the fourth most actively traded stock on the Robinhood 100 list.
Despite gaining 67.8% year-to-date, analysts expect AMZN to move higher over the coming months. This is due mainly to a rampant second wave of coronavirus infections that has hit most countries around the world. Analysts expect AMZN’s price to reach $3830.49, indicating a 20.2% rise from the current price.
This comes in despite the current antitrust charges levied against the company by the US government and European Union because the company has been implementing an ambitious expansion strategy to increase its market reach. AMZN is currently building multiple fulfilment centers across the country, as well as…
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