Aurora Cannabis is the Most Widely Held Stock on Robinhood

Written by: Steven Lachard – Marijuana Business Observer 

As of October 2018, the popular commission-free trading app, Robinhoodsurpassed 6 million users making it larger than E*Trade from a users standpoint.

While you can’t trade all 200+ cannabis-related stocks on Robinhood, you can trade all of the ones that are NASDAQ or NYSE-listed. That gives investors over 20 marijuana stocks to trade commission-free on Robinhood as well as a few cannabis-focused ETFs.

One of those NYSE-listed cannabis companies, Aurora Cannabis Inc. (NYSE:ACB), is actually the most widely held stock on all of Robinhood, beating out retail investor favorites like Apple Inc. (NASDAQ”AAPL), Tesla Inc. (NASDAQ:TSLA), Facebook, Inc.(NASDAQ:FB), Snap Inc. (NYSE:SNAP) and more.

 

With 420,434 Robinhood users currently owning shares of ACB, that’s almost double the 264,789 users holding shares of General Electric Company (NYSE:GE), the second most popular stock on the app.

In addition to Aurora, two other cannabis stocks are currently in the top ten most popular stocks on the Robinhood platform.

 

The fifth most popular stock on the app at the time of writing this is Cronos Group Inc.(NASDAQ:CRON), with 190,766 Robinhood holders, followed closely by Canopy Growth Corp. (NYSE:CGC) with 147,121 Robinhood holders at number 10.

As each company has more breaking news every day, these numbers are subject to change. In the interim, be sure to subscribe to updates here so you never miss an important development.