Millennials have been pouring into Tesla's stock following electric-car maker's disastrous first quarter.
as a reason to add shares of the electric-car maker, according to data from Robinhood.
The number of accounts on the free trading app Robinhood, which is popular among younger investors, holding Tesla shares climbed by more than 8% to 145,000 in the week following the company's earnings release. Millennials may have been attracted by the drop in Tesla's share price, which fell by as much as 12% following the results. For the first quarter,of $2.90 per share and a 37% quarter-over-quarter drop in revenue.
Tesla is now the 10th most widely held stock on the platform, with more users holding its shares than either Amazon or Facebook. The number of accounts holding the stock has doubled to 145,000 since the end of Q1. Aurora Cannabis is the most widely held stock on Robinhood, owned by more than 427,000 users.eak delivery numbers for the first quarterDespite these challenges, Tesla may finally be turning the corner as the automaker seeks to allay investor concerns.
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