We have already documented at length how the pandemic has been a boon for Robinhood and other discount brokerages. Many people forced to stay home and quarantine went on to become day-traders, to varying degrees of success. The result for brokerages was profound: massive boosts in the numbers of new accounts opened, with Robinhood being the most obvious beneficiary.
Put simply: the retail euphoria phase of the stock market bubble was supercharged during the virus lockdown where millennials, with no sports to watch, stuck in their parents’ basements, unemployed, and receiving stimulus checks, decided to become day traders. Read more…..
Chart of the Day
Traveling on trains and buses means potential exposure to the coronavirus, so cities are racing to make their public transit systems safe. WSJ explores how things like sanitizing robots, working from home and expanded bike lanes are changing our commutes. Video/Illustration: Jaden Urbi and Zoë Soriano.