Millennials piled into these 9 stocks in 2018

Spencer Platt/Getty ImagesTraders and employees of Sunlands Online Education gather on the floor of the New York Stock Exchange (NYSE) during the Beijing-based firms IPO.
  • Cannabis stocks were among the most popular with millennials in 2018, according to data from Robinhood, a no-fee app popular among younger traders.
  • Three cannabis stocks, Cronos, Canopy Growth, and Aurora Cannabis, were the most popular among Robinhood users this year.
  • Tech giants such as Facebook and Apple remained popular despite company earnings indicating slower growth ahead.

Millennial investors were fascinated with weed and tech stocks in 2018, according to data gathered by Markets Insider from the no-free trading app Robinhood.

For the 4 million Robinhood traders, a large portion of which are millennials (22 to 37 years old), marijuana companies become their darlings this year. Three pot stocks, Cronos(+141,688, up 609%), Canopy Growth (+128,699, up 374%), and Aurora Cannabis (+88,889, up 1,057%) saw the biggest increases of ownership on the app. Markets Insider tracked data from March 22 through December 20.

Younger traders’ enthusiasm for the cannabis companies came as the industry grew at a fast and furious pace. In the second half of the year, a number of beverage and tobacco companies, such as Constellation Brand and Altria, announced investments in cannabis producers, causing a “green rush” into the industry. Also fuelling interest in the space were Canada and Michigan legalizing recreational use of the drug.

Additionally, tech giants such as Facebook and Apple – continued to attract attention despite company earnings indicating slower growth ahead.

In July, Facebook’s earnings disaster and subsequent stock landslide was interpreted as a good buying opportunity among millennials and attracted a total of 61,307 Robinhood investors (+53.19%) to add the stock in the week following the results.

In November, when Apple fell out of favour with Wall Street and tumbled into a bear market amid waning iPhone demand, millennials were buying the weakness, allowing Apple reclaim its crown as the most-popular stock on Robinhood, with more than 210,000 owners on the app.

Here were the nine stocks that millennial investors on Robinhood were buying the most in 2018, in ascending by the number of net additions:


Amazon

MI

Ticker:
AMZN

Number of Robinhood shareholders: 121,963 (+52,056, up 74%)

Popularity ranking: 11

Year-to-date performance: +21%

Source: Robinhood


Microsoft

MI

Ticker:
MSFT

Number of Robinhood shareholders:164,079 (+54,743, up 50%)

Popularity ranking: 6

Year-to-date performance: +14%

Source: Robinhood


Ford Motor

MI

Ticker:
F

Number of Robinhood shareholders:193,716 (+67,101, up 53%)

Popularity ranking: 3

Year-to-date performance: -40%

Source: Robinhood


Apple

MI

Ticker:
AAPL

Number of Robinhood shareholders:210,743 (+68,471, up 48%)

Popularity ranking: 1

Year-to-date performance: -11%

Source: Robinhood


Facebook

MI

Ticker:
FB

Number of Robinhood Shareholders:170,599 (+71,618, up 72% )

Popularity ranking: 4

Year-to-date performance: -27%

Source: Robinhood


General Electric

MI

Ticker:
GE

Number of Robinhood shareholders:204,047 (+80,207, up 65%)

Popularity ranking: 2

Year-to-date performance: -60%

Source: Robinhood


Canopy Growth

MI

Ticker:
CGC

Number of Robinhood Shareholders:110,100 (+100,584, up 1,057%)

Popularity ranking: 17

Year-to-date performance: -6%

Source: Robinhood


Aurora Cannabis

MI

Ticker:
ACB

Number of Robinhood shareholders:163,170 (+128,699, up 373%)

Popularity ranking: 7

Year-to-date performance: -35%

Source: Robinhood


Cronos

MI

Ticker:
CRON

Number of Robinhood Shareholders:164,951 (+141,688, up 609%)

Popularity ranking: 5

Year-to-date performance: +32%

Source: Robinhood


SEE ALSO:

Here’s how 2018’s biggest US IPOs have performed

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.