Published on 12 Dec 2021 on Insider Monkey via Yahoo Finance
12 Penny Stocks Most Popular on Reddit and Robinhood
In this article, we discuss the 12 penny stocks most popular on Reddit and Robinhood. If you want to skip our detailed analysis of these stocks, go directly to the 5 Penny Stocks Most Popular on Reddit and Robinhood.
Retail investors who use internet platforms like Reddit to exchange ideas and stock trading applications like Robinhood Markets, Inc. (NASDAQ:HOOD) to make trades have emerged as a dominant market force in recent months, gaining stardom through the GameStop and AMC Entertainment short squeezes earlier this year and using the fame to organize around penny growth offerings. According to Marketplace Fairness, the most popular online brokerages in the United States were host to over 100 million accounts for retail investors in early 2021.
This number has grown by leaps and bounds since. Robinhood Markets, Inc. (NASDAQ:HOOD), the most popular online trading app where the average age of users is around 31, debuted on the market in late July, raising close to $2 billion at the offering and was valued at around $32 billion. The company had hoped to fetch a valuation of $35 billion but investors were skeptical about regulatory issues and there was retail investor “anger” against the firm for imposition of trading curbs in the meme stock frenzy in January.