Tesla Dethrones Apple as Top Pick Among Millennials in Q3, According to Apex Clearing's Data on Over 1.5mm Investors
DALLAS, Oct. 8, 2020 /PRNewswire/ -- Apex Clearing, the custody and clearing engine powering the future of wealth management, released its Q3 2020 Apex Millennial 100 report, an analysis of the top 100 stocks owned by millennial investors using Apex partner applications as of September 30, 2020. The report analyzed more than 1.5 million investment accounts owned by U.S.-based investors with an average age of 31 years and nine months.
More than just Tesla, millennial portfolios also include big names such as NIO, as well as EV-specific SPAC stocks
Millennial investors continue to be unrattled when evaluating opportunities to deploy capital, even amid the ongoing spread of COVID-19, as well as a backdrop of increasing tensions tied to the upcoming presidential election. The Q3 Apex Next Investor Outlook identifies notable patterns and provides insights into how this group of more than 1.5 million millennial investors reacted, with a special focus on how they are investing during the "new normal" market environment in comparison to other generations.
"It is incredible that since the beginning of the year, in the face of persistent pandemic-related volatility, the number of millennial investor accounts across our client platforms has doubled," said Bill Capuzzi, CEO of Apex Clearing. "This report truly gives us a glimpse into the investing mindset of these millennials, and how they've responded to not just volatility, but where they see opportunity and the sectors that excite them – one thing's for sure, they're definitely bullish in the face of uncertainty. The data we've collected in the latest quarter show that millennial investors are betting big on the electric vehicle sector. More than just Tesla, millennial portfolios also include big names such as NIO, as well as EV-specific SPAC stocks."
Some trending stock themes in the Q3 Apex Millennial 100 include:
Also in the third quarter, support for Big Tech stocks Apple, Amazon, Tesla and Microsoft spanned the generational divides for the second quarter in a row. Boomers, generation X, millennials and generation Z, in a do-over from the second quarter, again counted the big-name companies among their top four holdings.
To see the complete list of Millennial 100 stocks, click here.
About Apex Clearing Corporation
Apex Clearing is a custody and clearing engine that's powering the future of digital wealth management. Our proprietary enterprise-grade technology delivers speed, efficiency, and flexibility to firms ranging from innovative start-ups to blue-chip brands focused on transformation to capture a new generation of investors. We help our clients provide the seamless digital experiences today's consumers expect with the throughput and scalability needed by fast-growing, high-volume financial services businesses. Founded in 2012, Apex Clearing is registered with the SEC, a member of FINRA and a participant in SIPC.
For more information, visit the Apex Clearing website, and follow the company on Instagram, LinkedIn, and Twitter.
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SOURCE Apex Clearing
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