This sector is dominated by Robinhood Markets, Inc., a California-based financial services platform. Earlier this year, the company went public, raising about $2 billion in an initial public offering that valued the company at over $32 billion. The average age of Robinhood Markets, Inc. users is roughly 31 years old. This year, hedge funds and retail investors have been fighting for market supremacy. Hedge funds recommend Amazon.com, Apple, and Disney as some of the best Robinhood stocks to buy.
Here is Insider Monkey’s list of the 11 best Robinhood stocks to buy according to hedge funds. The eleventh best Robinhood Markets, Inc. stock to purchase, according to hedge funds, is Naked Brand Group Limited. In late August, the company stated that it had signed a merger deal with an unnamed entity. Following speculations that the United States aims to legalize marijuana on a federal level, interest in the cannabis industry has risen. If the bill passes, Aurora Cannabis Inc. is projected to be one of the primary benefactors of a cannabis boom. Blackberry Limited slightly outperformed market expectations in terms of earnings per share and revenue in the second quarter. On the ranking of the top 11 Robinhood Markets, Inc. stocks to purchase, it ranks ninth. By the end of this year, the global market for IoT devices is anticipated to be worth more than $165 billion. This year, Plug Power Inc. has been a hedge fund favorite. The hydrogen energy cell company is ranked eighth on the list of the 11 best Robinhood stocks to buy. Citi recently upgraded the stock to a Buy with a $35 price target. After consecutive quarters of delivery and sales growth, NIO Inc. has earned the title of “Tesla of China.” According to hedge fund recommendations, it ranks seventh among the 11 best Robinhood Markets, Inc. stocks to purchase. For more details, click 11 Best Robinhood Stocks To Buy According To Hedge Funds.