That’s it; the top is here. Many Americans used part of their coronavirus stimulus check to trade stocks

by j33tAy

Many Americans used part of their coronavirus stimulus check to trade stocks

  • Trading stocks was among the most common uses for the government stimulus checks in nearly every income bracket, according to software and data aggregation company Envestnet Yodlee.
  • People earning between $35,000 and $75,000 annually traded stocks about 90% more than the week prior to receiving their stimulus check.
  • “There’s clearly a correlation between Covid and people being reengaged with their money,” Bill Parsons, Group President, Data Analytics at Envestnet Yodlee told CNBC.
  • The coronavirus rout also appeared to bring a copious amount of new accounts to online brokers in the first quarter