These Robinhood Stocks Have Been Crashing Lately. Is It Time to Buy?
Robinhood is a financial-services company that offers commission-free investing, and it has attracted millennial investors. It's a good place to check out what's popular among young retail investors, though it's important to note that stocks that are hot among Robinhood investors are often overpriced because of the hype surrounding them.
However, two stocks on the Robinhood Top 100 most popular stocks list, Moderna (NASDAQ: MRNA) and Virgin Galactic (NYSE: SPCE), are struggling of late and coming down in price. Let's take a closer look at why they're dropping and whether that's made either one of these two stocks a buy right now.
It's been a great year for Moderna, as the biotech company's been in the news for its development of a vaccine for COVID-19. On July 27, it announced the beginning of its phase 3 study for mRNA-1273, its vaccine candidate. The study is significant because it could involve as many as 30,000 people. The results will be much more meaningful than those from previous studies, including a phase 1 study that produced positive results in July but with data available for only eight people. Nonetheless, it was enough to help the stock rally.
Source Fool.com
