Market Volatility Catapults Robinhood's Downloads for Second Time in 2020
The stock market has been very confused lately, going up and down with what feels like little rhyme or reason and a lot of speculation. Volatility is where investors stand a chance to make the most money, and we can see how much demand there is for investing right now by looking at the demand for apps.
Volatility = Opportunity
Robinhood has become the most popular investing app because of its simplicity and also because there are no fees on transactions.
Mere mortals, or retail investors, as the finance industry calls us, have been looking for a way to gamble their way into the stock market and found Robinhood to be the app for that. Since the virus made its way to the west in March, Robinhood's downloads have catapulted on both the App Store and Google Play.
Its first spike came in March when the app saw downloads triple nearly overnight to more than 100K downloads per day. Then, as protests spread across the U.S., downloads have again spiked, this time quadrupling to almost 90K downloads per day.
Doubling Year over Year
More than 7,000,000 new users downloaded Robinhood to their iOS and Android devices so far in 2020.
That's more than double the number of downloads during the same period in 2019. Although pandemics and civil unrest are hard to predict, it's clear that Robinhood's no-fee and super simple approach is winning, and will likely cement itself as the leader even after these crises are behind us.
App Intelligence for Everyone!
The insights in this report come right out of our App Intelligence platform, which offers access to download and revenue estimates, installed SDKs, and more! Learn more about the tools or schedule a demo with our team to get started.
Are you a Journalist? You can get access to our app and market intelligence for free through the Appfigures for Journalists program. Contact us for more details.
All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.