The popular zero-commission trading app Robinhood has lately been seeing a rise in the trading volumes of clean energy and cryptocurrency stocks. Amid the growing popularity of the trading platform among ESG investors ahead of its targeted IPO, Wall Street expects popular Robinhood stocks NIO (NIO), Coinbase Global (COIN), and Plug Power (NASDAQ:PLUG) to rally by more than 40%. Let’s discuss.Robinhood is one of the most popular trading platforms in the United States. It is used primarily by millennial and Gen Z traders. The company’s signature “zero commission trading” has made it a big hit, and one of the biggest trading platforms in the country. Robinhood had 13 million registered users in 2020. Furthermore, 9.5 million users traded cryptocurrency through Robinhood in the first quarter of 2021, representing a 6x rise sequentially.
Robinhood plans to go public in July. And according to Bloomberg Intelligence analyst David Ritter, Robinhood could be worth as much as $40 billion in an IPO, if approved.
Despite controversy regarding temporary regulatory restrictions on Gamestop, Inc. (GME) shares during a short squeeze earlier this year, Robinhood remains one of the most popular trading platforms among the youth. With rising interest in clean energy and cryptocurrencies among the younger generation, Wall Street analysts expect popular Robinhood stocks NIO Inc. (NIO), Coinbase Global, Inc. (COIN), and Plug Power Inc. (PLUG), which are ranked in the top 35 in the Robinhood top 100 list, to rally by more than 40% in the near term.