Downloads of the trading app Robinhood grew over five times between December 2020 and January 2021, according to Google Play Store and Apple App Store figures. The number grew from around 651,000 downloads in December 2020 up to around 3.29 million downloads in January 2021. The reason for the increased number of downloads was that the app played a central role in the GameStop story in January 2021, where young investors saw an opportunity to make money on the GameStop stocks with commission-free trades via the Robinhood platform.
Popularity of Robinhood
Investors' viewpoints are increasingly turning toward the utilization of technology when investing as the majority of wealth management clients worldwide agreed technology has improved investing decision making and allowed for higher efficiency and reduced costs. Robinhood's ease of accessibility to investors and low-cost business model are contributing factors that allowed them to previously outperformed other leading trading apps in the number of monthly active users on their platform.
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Airnow. (May 20, 2021). Number of global downloads of the Robinhood app from December 2018 to April 2021 (in 1,000s) [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/941809/robinhood-app-monthly-downloads/
Airnow. "Number of global downloads of the Robinhood app from December 2018 to April 2021 (in 1,000s) ." Chart. May 20, 2021. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/941809/robinhood-app-monthly-downloads/
Airnow. (2021). Number of global downloads of the Robinhood app from December 2018 to April 2021 (in 1,000s) . Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/941809/robinhood-app-monthly-downloads/
Airnow. "Number of Global Downloads of The Robinhood App from December 2018 to April 2021 (in 1,000s) ." Statista, Statista Inc., 20 May 2021, https://www.statista.com/statistics/941809/robinhood-app-monthly-downloads/
Airnow, Number of global downloads of the Robinhood app from December 2018 to April 2021 (in 1,000s) Statista, https://www.statista.com/statistics/941809/robinhood-app-monthly-downloads/ (last visited July 03, 2024)
Number of global downloads of the Robinhood app from December 2018 to April 2021 (in 1,000s) [Graph], Airnow, May 20, 2021. [Online]. Available: https://www.statista.com/statistics/941809/robinhood-app-monthly-downloads/