Robinhood and Reddit prime the App Retailer, as buying and selling apps surge following GameStop mania

The GameStop mania didn’t simply drive up the inventory worth of a declining online game retailer, it’s additionally despatched buying and selling apps and others to the highest of the App Retailer, as a consequence of record-breaking downloads. At the moment, the favored buying and selling app Robinhood has change into the No. 1 app total on the App Retailer for the primary time, adopted by No. 2 Reddit, home to the r/wallstreetbets discussion board which drove the push to purchase GameStop.

Neither app had reached as excessive a chart place earlier than, in line with data from Apptopia.

The app retailer intelligence agency additionally discovered that Robinhood had its greatest day ever by way of single-day downloads on Wednesday, Jan. 27, 2021 when 120,000 new customers downloaded the shares app for the primary time throughout each iOS and Android. Robinhood additionally broke data for its highest variety of day by day lively customers on cell at 2.6 million.

In the meantime, on-line discussion board web site Reddit broke its obtain file for its cell app, with 199,000 single-day downloads on iOS and Android, Apptopia estimates, whereas additionally climbing to No. 2 on the General High Charts on the U.S. App Retailer.

However the frenzy round GameStop and the revenge of the retail trader is boosting different, extra conventional buying and selling apps, as effectively. Apps like TD Ameritrade, Webull, Constancy, and E*TRADE have benefited from the state of affairs, with record-breaking day by day customers and better chart rankings.

All 4 apps on Wednesday achieved their highest-ever chart place up to now on the U.S. App Retailer, with Webull at No. 45 General, adopted by TD Ameritrade at No. 53, E*TRADE at No. 113, and Constancy at No. 178.

Webull additionally recorded its highest variety of day by day lively customers yesterday, with 952,000, whereas TD Ameritrade noticed a file 444,000 day by day lively customers and Constancy had a file of 429,000 Apptopia discovered.

Mixed, the 4 apps noticed 863,000 whole downloads on Wednesday (Webull: 39Ok; TD Ameritrade: 24Ok; E*TRADE: 11Ok; and Constancy: 12.3K).

It’s unclear how lengthy the buying and selling app mayhem will proceed, as Robinhood has already halted the trading of “meme stocks” like GameStop, AMC Leisure, BlackBerry, and Mattress, Bathtub & Past, Koss Company, Categorical, Nokia and Bare Model.

That hasn’t sat effectively with Robinhood customers, who at the moment are within the processing of assailing the app with 1-star evaluations consequently, and encouraging others to the do the identical.

Surprisingly, the Sq.-owned Money App hadn’t but gained from the GameStop madness this week, Apptopia discovered. However it does seem to now be struggling because the Robinhood crowd started the seek for one other inventory buying and selling device. This morning, Money App’s Twitter account bio reads it’s wanting into a problem with Money App that’s “delaying some orders.”

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