Millennials are piling into Tesla following the announcement of its $35,000 Model 3

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Millennials are piling into Tesla following the announcement of its $35,000 Model 3
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Millennials have been scooping up Tesla shares after the electric-car maker announced a $35,000 Model 3 is now available.

and begin selling the company's cars through online sales only.

Shares drop sharply, and were still down about 12% from where they were trading before CEO Elon Musk's conference call. But at least some bold investors have stepped up their interest in the company amid the stock's decline. Users of the free trading app Robinhood, which is popular among younger traders, increased their holdings of Tesla by nearly 20% over the past week.

Now, 119,731 accounts hold Tesla shares, with the stock climbing five spots in the rankings 16th place, just behind Amazon.Looking ahead, Tesla investors will be on the lookout for theTesla shares were down about 15% so far this year.

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