Millennials' 2017 Stock Market Choices: A Year of Missed Opportunities
Explore how Millennials approached stock trading in 2017, favoring tech and cryptocurrency yet facing notable challenges.
Despite the stock market reaching record highs in 2017, many Millennials remained hesitant about investing in stocks. Those who ventured into trading, however, often struggled to achieve strong returns.
A Bankrate survey revealed that Millennials preferred investing in real estate and gold over stocks, even though stocks have historically delivered superior returns. Among those who did invest in stocks, their focus was primarily on recognizable consumer brands, technology companies, and cryptocurrencies.
Robinhood, a trading platform popular among Millennials, reported its top 10 most traded stocks in 2017 along with their annual performance. Unfortunately, six out of these ten stocks ended the year with losses, contrasting with the S&P 500's impressive 19.4% gain. Leading the losses was chip manufacturer Advanced Micro Devices Inc. (AMD), which declined by 3.1%. Other notable declines included Fitbit Inc. (FIT) down 25.4%, Snap Inc. (SNAP) dropping 39.4%, and GoPro Inc. (GPRO) falling 13.8%.
Embracing Cryptocurrency and Tech
On the brighter side, stocks like Ford Motor Co. (F), Apple Inc. (AAPL), and Twitter Inc. (TWTR) offered modest to strong gains of 0.3%, 47.9%, and 49% respectively, helping to offset some losses.
Similarly, Stockpile, another favored app among Millennial investors, highlighted Amazon.com Inc. (AMZN) as its most popular stock, followed by the Bitcoin Investment Trust, which tracks the price of Bitcoin, the highly volatile digital currency.
A Stockpile spokesperson explained, "Millennials tend to invest in companies they are familiar with or aspire to engage with, such as Amazon, Snapchat, Facebook, and Tesla. Regarding Bitcoin, many Millennials view it as a unique growth opportunity shaped by their generation, allowing them to participate early in this emerging market."
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