Published on 20 Dec 2023 on Insider Monkey via Yahoo Finance
12 Best Stocks To Buy on Robinhood for Beginners
In this article, we discuss the 12 best stocks to buy on Robinhood for beginners. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Stocks To Buy on Robinhood for Beginners.
For a very long time, the United States stock market was the ultimate status symbol, with access to equity trading protected and policed by elite brokerage firms that charged hefty amounts to carry out trades. In recent years, with the advent of stock trading applications like Robinhood, owned by California-based Robinhood Markets, Inc. (NASDAQ:HOOD), stock trading is no longer a game for the rich. It is now accessible to people of all ages and backgrounds through commission-free trades.
Robinhood has made a brand name for itself that will be hard to dislodge. For example, the company claims that nearly 80% of new accounts on the platform come from people who sign up themselves, unprompted by advertisements, or through customer referrals. This is quite astonishing given the hundreds of millions big corporations tend to spend on marketing budgets. There are also downsides to this brand power, as the platform is routinely accused of bias by both veteran and retail investors, depending on the market situation.