There have been many investment apps that have come out over the past few years but none have achieved quite the notoriety of Robinhood in the wake of COVID-19. While many investors sat on the sidelines during the coronavirus downturn, millennials saw an opportunity. Aided by zero commissions and fractional trades, some major online brokers like Charles Schwab, TD Ameritrade, Etrade and Robinhood saw new accounts grow as much as 170% in the first quarter. Young investors took the opportunity to buy technology stocks they were already familiar with, driving the rebound led by tech stocks in March.
