Is the Stock Market’s Rally Reminiscent of 1999?
Millennials have been blamed for killing industries ranging from napkins to beer but they might be what has saved the stock market. Whether this proves to be savvy remains to be seen. A couple of weeks ago I warned how Barstool Sports founder David Portnoy, having become the face of a new breed of day traders, might be leading down a dangerous path of thinking stocks only go up and making money in the market is easy.
Well, so far Davey Day Trader and his merry men with Robinhood accounts have been making out like bandits. Data shows that not only did the activity of retail trading surge during the past two months, some of which was a function of being stuck at home with cash stipends coming in combined with across the board drop to zero commissions.
And they were not… Continue reading at StockNews.com