SPY - Contrary To Popular Belief Robinhood Traders Aren't Driving This Rally
There has been much said about the influx of new investors into the markets:
- Robinhood logged a record three million new accounts in Q1 of 2020. Less-hot rival E*Trade (ETFC) opened 260K accounts, more than they've ever booked in a full year.
- Shelter-in-place clearly has played a role in the sudden interest in stocks among 20-somethings.
- Another factor is the outperformance of stocks that GenZ-ers grok, mostly likely better than older folk. The crazy growth in market share among the big four (Amazon, Apple, Facebook, Google), most recently documented by SA author Scott