Robinhood had set aside up to 35 percent of its Class A shares for its customers. The company and its investors sold 55 million shares Wednesday for $38 each to raise $2.1bn, giving the firm a market value of just below $32bn at the initial public offering (IPO) price. The firm is set to make its debut on the Nasdaq Composite Index on Thursday. One platform favoured by new investors is Robinhood, whose stated mission is to “democratize finance for all” - although investors have to be aged 18 or older to sign up. But that stereotype has been turned on its head during the coronavirus pandemic as a combination of stay-at-home boredom, user-friendly trading platforms and the meteoric rise of so-called “meme stocks” lure new legions of retail investors - and even teenagers aren’t immune to the stock market’s siren call.
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“For stocks, my favourite fact-checks are the companies’ filings and info from the companies themselves.”ĭabbling in the stock market used to be the preserve of grown-up professional investors with savings to wager. “I get info from all areas of the internet, and always fact-check what someone says and make my own mind up on a stock,” Cox said. He also tweets about the latest financial news using the handle there are a plethora of stock tips out there and many social media influencers are offering their two cents, Cox is careful to do his homework. What began as a hobby quickly turned into something more: Cox launched his own “Young Investor” YouTube channel in August, and has since built a following of 8,000 subscribers. The 13-year-old investor from southwest England used his pocket and chore money to start trading on the United Kingdom-based Trading 212 platform. “When there was an ad campaign from my current broker on YouTube, I decided to open an account.” “I love history and had seen events related to the stock market in history books,” Cox told Al Jazeera. It was a fascination with history that led teenager Zachary Cox to stock trading.
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