Robinhood traders are not behind the market’s recent rally, Barclays says

Since recent market lows in March amid the coronavirus meltdown, retail traders have been jumping into stocks via zero-fee brokers such as Robinhood, fueling a popular narrative that new retail investors are driving the stock market’s recent rally.  A recent analysis by Barclays using Robintrack data found that there is no clear relationship between Robinhood users adding shares and S&P 500 index performance.  In addition, Barclays found that there is actually a negative relationship between Robinhood ownership and stock price performance. Read more on Business Insider.

Retail investors using the popular trading app Robinhood have not