When you think of millennials (born between 1980 and 1995) and millennials (born around 1996 to sometime in the 2010s, depending on who you ask) – in total about 170 million in the United States– are you thinking of an investment center? You should. The 18-35 year olds make up the majority of users of the Robinhood stock trading platform / app. (Remember when Robinhood didn’t let you in on the fun of trading GameStop shares earlier this year?)
This gave IG DailyFX a clear way to see which stocks are best with young people. The site checked data going back a year from April 1, 2021, to see which stocks are best overall (above) and by state.
Look closely, and you will see that a particular stock is missing. GameStop (GME). It was deleted because, with the Reddit fueled madness of the Gamestonk movement, it would have skewed the results.
What’s interesting is that Apple is the leader in seven states (Alabama, Florida, Kentucky, Mississippi, New Hampshire, New Mexico, and West Virginia) and also leads nationally, but both other popular actions you may not be familiar with. Nio is a Chinese rival to Tesla, and it has more trading volume than Apple in many states, although it only ranks 9th nationally. Another big one is Connect the power, which manufactures green hydrogen fuel cells. It has a low stock price but a lot of interest, which puts it ahead in as many states as Apple; it is number 16 nationally.
Many renowned companies are on the top 50 list, including Tesla (just behind Apple), but also many travel agencies: American Airlines, Carnival, Delta, Norwegian, etc. pharmaceutical companies such as Pfizer and Moderna; and vehicle and fuel companies, including Ford, Marathon Oil and ExxonMobil. It’s interesting to see Aphria in there, at number 22 — it’s a Canadian cannabis company that recently merged with another, Tilray, who both saw huge spikes in stock prices This year. Another is Canopy Grown, also outside of Canada, at number 44 — a company The motley fool says didn’t even make a profit in 2020.
For our readers, tech stocks are of particular interest (although the overlap with sectors such as retail and entertainment makes it difficult to categorize many companies as simply “tech”). After Apple and Tesla come Disney (10), Amazon (12), Microsoft (13), GoPro (14), Snap Inc (18), Fitbit (26), Twitter (34), Netflix (36), Facebook (41) , AT&T (42) and Uber (43).
By the way, AMC stock is listed at number 24, but it retains more than a whiff of short-squeeze Gamestonk-ery. Do your research before you buy.
What about the UK?
Look across the Atlantic to the biggest-volume stocks on Robinhood in the UK, and the story is a little different. (The UK stock volume data is from April 6, 2021 to one year ago.)
Apple hardly made it into the top 50 on this list – it comes in at number 48. Instead, Nio is the # 1 business, and Airbnb (which isn’t in the US top 50) is # 2. Other tech highlights include Zoom, which is on the UK list at number 4, as well as names outside the US top 50 including Nokia (6), Square (21), PayPal (34) and Sony. (43). Companies on both lists include Uber, Tesla, Disney, GoPro, Microsoft, and Amazon.
Take them all into consideration if you’re looking for new stocks to invest in and like to follow younger ones. Do your due diligence first, of course. Just because a stock has been traded a lot in the past year doesn’t mean its value won’t go down.
Read the full report at DailyFX.com.