Robinhood traders are not behind the rally and their favorites actually underperform, Barclays says

by KJ6BWB

https://www.cnbc.com/2020/06/12/robinhood-traders-are-not-behind-the-rally-and-their-favorites-actually-underperform-barclays-says.html

Retail investors speculating in stocks are not responsible for the market’s comeback and their top picks tend to underperform, according to Barclays.

The Wall Street firm looked at historic data for Robinhood customers and examined their top holdings and closing stock prices. Barclays concluded there was no clear relationship between Robinhood customers adding shares and S&P 500 index moves.

Also, apparently people who can engage in pre-market bidding are messing with prices to profit off of people who are using Robinhood.