The Robinhood 100

by Geoff Garbacz | 02/16/2021 8:19 PM
The Robinhood 100

In a new effort, we are going to start tracking weekly (each Monday night) the Robinhood 100 List which is a list of the top 100 holdings of Robinhood investors. Why? Well folks, Robinhood traders and investors now account for over 20% of the volume on the various exchanges - NYSE, NASDAQ and CBOE and they are pretty decent stock pickers despite what the media would have you believe.

What is Robinhood? It is no different than Charles Schwab or Fidelity other than the fact that Robinhood caters to the millenials and have been labeled as such. These traders want action and stocks that move. As such, they were partially responsible along with Redditt for causing one of the biggest short squeezes of recent memory as the stock rose from $18.84 on December 31st to a peak of $483 on January 28th.

Currently, Gamestop has fallen back to earth and closed today at $49.91 and is no longer a short squeeze. However, the one thing I have learned by tracking the Robinhood 100 list is that if you want to trade stocks that move then this list is for you.

This week the following stocks went on the Robinhood 100 list Clover Health (CLOV), Globalstar (GSAT), Northern Dynasty Minerals (NAK), Senseonics (SENS) and Tonix Pharmaceuticals (TNXP). With adds each week, there may be deletions. Currently removed stocks from the list included Intel (INTC), Li Motors (LI), MFA Financials (MFA), iShares Silver Trust (SLV), Visa (V) and Xpend (XPEV).

So what did I take out of these changes? First of all on the deletions, I think that Li Motors (LI) could be an interesting short idea if it breaks $30. I could see a drop down to $20 in a matter of days. It is notable that traders are giving up on the iShares Silver Trust (SLV) as a trading vehicle. The action has been very choppy and hard to make money with in the last month.

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In terms of the additions, I love the action in Globalstar (GSAT) which I began following on its breakout on February 9th. On that day the company announced a deal with Qualcomm (QCOM). The CEO of Globalstar (GSAT) noted, "As we continue to build momentum in our terrestrial spectrum commercialization, this partnership substantially expands Globalstar's potential," Globalstar Chairman Jay Monroe said in a press release. "We have appreciated a close relationship with Qualcomm since the inception of the company and want to thank the team there for their hard work in helping us deliver on Band n53's promise."

A Morgan Stanley analyst prior to this announcement had noted that the stock was only worth $0.55 and took his weighting to underweight. As Randy Mosss would say, "Cmon Man". It is a matter of time until the analyst swallows his pride and changes the rating.

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The other thing I like to do is track the action in the Robinhood 100 each day. We will begin to post this list at the end of each day on our sister publication  Superstock Investor which is a great reason to sign up for the service.Today saw newcomer to the list Senseonics (SENS) rise 27% and close at $5.27. Several weeks ago I traded another newcomer to the list Ocugen (OCGN) from $3.35 to $13.65 in less than a week. Could Senseonics be the next Ocgen?

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