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| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | The behavior and performance of retail investors during the COVID-19 pandemic: Evidence from Robinhood users |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 42 |
| Date | 2022 |
| Abstract Text | During the COVID-19 pandemic, the trading platform Robinhood attracted many new inves-tors. In this paper, the trading behavior and performance of Robinhood users, representing retail investors, is investigated. It shows that Robinhood users are subject to attention induced trading, prefer familiar stocks, invest countercyclically, and are strongly biased toward short-term returns in stock selection. This behavior intensified even further during the COVID-19 pandemic. Over the observation period from May 2018 to August 2020, the Robinhood users managed to perform well, especially in markup phases. |
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