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WHEN the investing apps Robinhood, Acorns and Stash came on the scene, a new type of saver emerged, one who could save money when making purchases (a microsaver). Then came the microinvestor, a saver who could buy small-dollar amounts of shares of stocks.
Microinvesting enables the purchase of less than a full share of a stock. Someone who had only $50 to invest could purchase a fraction of a share of, say, Apple, even though a full share costs more (about $119, as of the close on Nov. 12).