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
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— Hedgeye (@Hedgeye) May 22, 2020
Market falls 8-10 points in half an hour reverses it all in half a second. The panic buying “we will never get another chance to buy this if it isn’t now”….is real
— hks55 (@hks55) May 22, 2020
Why would you not buy this. That’s the only question here. Long weekend. Stocks at lifetime highs. Pandemic. Depression. War. Invasion. If you don’t buy this now you’ll never get another chance. Never. Rolling limit ups start next week. This is your last chance. Very last.
— hks55 (@hks55) May 22, 2020
Bored Day Traders Locked at Home Are Now Obsessed With Optionst.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