The GameStop bubble has come and gone but the rookie investors who speak emoji and Reddit may be here to stay with big implications for brokerage firms, as well as traditional investors who must pay closer attention to where this fast-moving, smartphone app-wielding crowd is moving next.
“We believe some of the new retail activity is here to stay,” wrote an analytics team at Bank of America in a report to clients.
Bank of America’s team found that the unprecedented surge in brokerage app downloads during the GameStop mania is continuing at a rapid pace this month even with the GameStop trade itself now forgotten. Credit Suisse data shows retail trading as a share of overall market activity has accelerated in recent months and has now doubled compared to the start of last year. Read more…..
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Individual investors are taking advantage of the GameStop stock frenzy to become unlikely Wall Street disrupters. NBC business and technology correspondent Jo Ling Kent spoke to some of them for In Depth TODAY.