- Robinhood users ramped up deposits during Monday's market sell-off.
- The Dow Jones industrial average witnessed its largest point drop ever on Monday.
Robinhood users ramped up deposits during Monday's market bloodbath
It doesn't look like millennial users of popular stock trading app Robinhood are afraid of a market dip.
Users of popular stock trading app Robinhood saw a buying opportunity in Monday's market sell-off.
On Monday, the US stock market witnessed its largest point decline ever. The Dow Jones industrial average dropped as much as 1,600 points during Monday trade before closing down 1,175 points. Still, a spokesperson for Robinhood, the California-based brokerage, told Business Insider its users ramped up deposits on its zero-commission stock trading platform.
"We saw a large spike in transaction volume and trading activity on the platform today," the spokesperson said. "Retail investors deposited 20% more funds into their Robinhood accounts today than they did on Friday."
ecline about 8% between December 31 and January 15.
"Those were the days we saw the biggest net deposits we had ever seen," Bhatt said."With this younger generation, when the market takes a slide, they see it as an opportunity to buy."
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