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
"We continue to have the most accurate longer-term view of both the US and Global economic cycles out of anyone you read for shorter-term updates. It’s uniquely multi-duration research that has no FOMO or feelings.
via @KeithMcCulloughhttps://t.co/EwC05xpU8N
— Hedgeye (@Hedgeye) May 22, 2020
https://twitter.com/hks55/status/1263829930711883784
https://twitter.com/hks55/status/1263829127225892864
Bored Day Traders Locked at Home Are Now Obsessed With Optionshttps://t.co/OoYV2iORHo and yesterday I heard from my mechanic asking me to teach him some tricks with options @SarahPonczek @TheStalwart @LJKawa pic.twitter.com/i7JwIWwAwG
— Thomas Thornton (@TommyThornton) May 22, 2020