4 Robinhood 100 Stocks that Plunged in October

Robinhood is a commission-free stock investing and trading app that currently boasts more than 13 million members.  The app publishes the Robinhood 100, which is a list of the most popular stocks owned by Robinhood investors.

The stocks on the Robinhood 100 garner…

a significant amount of attention, as they have mass appeal and are well-known by retail investors.  Some of the stocks on this list have soared in 2020, like Amazon (AMZN) and Microsoft (MSFT).  Yet others have recently experienced dramatic pull backs in their share prices.

Take a look at these four Robinhood 100 stocks that have plunged in October: Intel Corporation (INTC), Lyft (LYFT), Eastman Kodak Company (KODK) and TherapeuticsMD (TXMD).

Intel Corporation (INTC)

Robinhood traders have good reason to favor INTC but the stock has been a dog lately. INTC is the second largest semiconductor manufacturer in the world. As the leading supplier of chipsets and microprocessors, INTC is largely dependent on the PC segment yet its brass is attempting to partially segue to businesses that are data-oriented.

INTC has had a rough month, dropping from $54 all the way to $46, after releasing its most recent quarterly earnings report.  In particular, INTC’s data center group’s margins fell quite considerably. The demand for data center chips has significantly declined, dropping nearly 50% on a year-over-year basis. INTC has a long road to recovery.

INTC has an “A” POWR Rating Industry Rank grade yet it has “C” grades in the Buy & Hold and Trade Grade components. Furthermore, INTC has a “D” Peer Grade component. The stock is ranked 34th of 86 in the Semiconductor & Wireless Chip category.

Check out the top analysts’ take on INTC and you will find eight recommend the stock as a “Buy”, 13 classify it as a “Hold” and six consider it a “Sell”.

Lyft (LYFT)

LYFT is well-known throughout the world as an affordable replacement for conventional taxicab service. The LYFT ride hailing app is easy to use yet the company’s stock has declined in recent months. LYFT was priced over $30 in September. Today, the stock trades under $25.

LYFT is currently struggling as there is no guarantee the company will be exempt from California’s AB5 legislation that treats contractors as full-time employees, meaning they will be provided with full benefits. Though LYFT has a solid balance sheet, paying full benefits to its contractors could cripple the company. Furthermore, Joe Biden has pointed out the injustices of the gig economy, making it all the more likely that LYFT will face increased costs if employee classification changes.

Check out LYFT’s POWR Ratings and you will find…

Continue reading at STOCKNEWS.com