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Robinhood users buy and hold companies “they know, understand and believe in for the long term.” Here are their favorite stocks.




Technology companies, electric car makers and some meme stocks are part of the overall mix of stocks in the portfolios of Robinhood users, according to a new index from the brokerage app aimed at new investors.

These are stocks like Amazon AMZN,
+2.66%,
Microsoft MSFT,
+2.30%,
Tesla TSLA,
+3.60%,
Apple AAPL,
+1.88%,
Ford Motor Company F,
-0.32%
and Disney DIS,
+2.54%.
There is also Nio NIO,
+8.37%,
GameStop GME,
+11.96%
and shares in AMC Entertainment Holdings’ AMC,
+12.50%
preferred shares APE,
+8.22%.

Everything shows that Robinhood users are buying — and holding onto — companies “they know, understand and believe in for the long term,” the company said in an announcement Friday morning that unveiled the Robinhood Investor Index.

“The index captures how our clients invest based on the 100 most owned stocks on Robinhood,” the company said in a statement.

“Unlike most other indices, it is not weighted by dollars, but by conviction. We measure a client’s conviction for each investment by looking at the percentage it makes up of their portfolio,” Robinhood added.

“Unlike most other indices, it is not weighted by dollars, but by conviction. We measure a client’s conviction for each investment by looking at the percentage it makes up of their portfolio.’


— Robinhood Investor Index

“And to ensure that all clients are equally represented, we average convictions for each investment across all clients, whether they have $20 or $20 million in their account,” it added.

“The index does not reflect the positions or performance of any individual investor, but rather is an aggregate view of what our clients are investing in on a relative basis,” Robinhood said, noting that it will update the index monthly. (The index does not include exchange-traded funds or cryptocurrency.)

As institutional and retail investors grapple with volatile stock markets and consider the chance of a recession, Robinhood hopes there can be value in users seeing where others are putting their money.

For all of 2021, the 100 most traded stocks for Robinhood users beat the overall performance of the Nasdaq Composite, and now the two are essentially on par, according to Robinhood’s data.

Nasdaq COMP,
+2.11%
is down almost 23% year to date. Dow Jones Industrial Average DJIA,
+1.19%
is down nearly 12% and the S&P 500 SPX,
+1.53%
is reduced by 15% in that period.

As investors grapple with volatile stock markets and consider the chance of a recession, Robinhood hopes there may be value in users seeing where others are putting their money.

“Validation is very important to a segment of our investors and so they will find this very valuable,” said Steve Quirk, Robinhood’s head of brokerage.

Put another way: Validation is effectively knowing that a certain group of people take the same approach; for some, it helps to feel that they are not alone.

Of course, there can be pitfalls in following what others are doing, but Quirk noted that the index is just one data point to inform investors’ decisions.

Other gauges paint a gloomy view of the stock markets. More than half of people voted that stock prices will fall in the next six months, according to the latest sentiment survey by the American Association of Individual Investors.

But it could be a “buy” signal, because the organization views the sentiment survey as “a contrarian indicator” such as an opportunity for value.

In all, the most represented sectors in the index include consumer durables, technology and consumer services, Robinhood said.

In early 2021, shares of meme stocks like GameStop surged in value, fueled by social media support from places like Reddit’s WallStreetBets.

But Robinhood came under intense criticism when it temporarily halted buy orders for GameStop and other companies during the trading frenzy. It was a necessary step due to security requirements, CEO and co-founder Vlad Tenev said later, also stressing that the vast majority of Robinhood users were buy-and-hold investors rather than traders looking at short-term bets.

Now Robinhood has a new challenge: Rough stock market conditions are hammering user portfolios and creating headwinds for the company itself. Last month, Tenev announced plans to cut staff by 23% due to weakening economic conditions that pressured trading activity and reduced the value of its holdings.

Assets under custody fell 31% from the first quarter to $64.2 billion in the second quarter, Robinhood said in its second-quarter results.

robinhood HOOD,
+4.95%
shares are down nearly 40% year to date.

Also read:

GameStop stock rises after a lower-than-expected loss, but the company “remains a mess,” Wedbush says



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