Millions of millennials have taught themselves online stock trading during the pandemic

This appeared in The Millennial Source

Robinhood’s valuation, membership and fundraising have soared throughout 2020, even as the economy has faced more downs than ups.

For many young people, 2020 has been a largely monotonous year, with COVID-19 shutting down the economy, social activities and even school.

For others, however, the pandemic has proved to be an opportunity to explore new interests and hobbies. For many young Americans and millennials, this has meant taking some tentative steps into the world of online stock trading.

Through the popular brokerage app Robinhood, millions of young people have begun purchasing options and trading stocks and cryptocurrencies for the first time, all made possible thanks to an app designed to appeal to a younger audience with its streamlined layout and behavioral nudges.

Robinhood Markets, Inc. has welcomed this growing interest. Robinhood’s valuation, membership and fundraising have soared throughout 2020, even as the economy has faced more downs than ups.

But it’s not all smooth sailing for this new generation of stock traders. Some have suggested that Robinhood’s app lures first time traders into making poor decisions without…