Meme stocks, crypto crazes, stimulus checks, and a bull market all contributed to a frenzy of trading activity between 2020 and 2021.
With 2.5m new US millionaires minted last year, there was reason for optimism.
Fast forward to today, where a looming recession has traders pumping the breaks, per The Wall Street Journal.
Daily trading volume…
… has fallen sharply across the board as the S&P 500, Dow Jones Industrial Average, and Nasdaq composite are all down big year to date.
- For Robinhood, the app most associated with powering meme stock mania, July was the weakest trading month on record.
The irony is that investors can get some of their favorite stocks much cheaper today than at any point in 2021, and as the downturn continues, long-term investors will likely be eager to pounce.
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