COVID-19 Brings New Army Of Day Traders Into Stock Market

It is now estimated that 1 in 5 Americans are actively engaged in playing the stock market these days.
From interest in booming markets, which many believe to be overvalued, to a lack of options for millions who are financially struggling, it has pushed some people into learning about stocks and investing for the first time.

Not only have some surveys suggested that more Americans are trying to save money now, having more saved for an emergency now than credit card debt, but they're trying investing too. Some for the first time.

It's estimated that some 20 percent of Americans are now invested in some stocks or mutual funds, and this is an increase of about 15 percent from Q2 last year.

It was amateur investors more than anything that had made the headlines with their GameStop investing, along with other stocks like BlackBerry and AMC.

It is new apps like Robinhood and others that have made it easier than ever today for people to start investing on their own. The Robinhood app saw more than 600k downloads this year already despite the controversy over the GameStop trading situation.

One thing that millions of Americans are not learning how to do in school is the basics of money management and investing. Teachers don't teach you how to build a successful financial future or make wise financial decisions. Some might say that this is much more important than a wide range of topics they do drill into you in school and it's about time that people went looking on their own how to do it.

Of course there is great risk that comes with that and authorities around the world from the UK to the U.S. have been warning about the dangers of investing when you don't know what you're doing, especially in cryptocurrencies. They've been reiterating the warning that you should never put in what you cannot afford to lose.

Trading platforms continue to see an increase in demand and interest for their services today.

The more individuals that can embrace some level of financial literacy the better, because they will be able to give themselves the tools to make better decisions rather than having others tell them what to do.

Prior to COVID-19, interest in crypto trading had already been on the rise but the pandemic definitely impacted that interest. Surveys from last year have discovered that more than half of U.S. investors might be interested in learning about bitcoin and investing in cryptocurrencies.

not financial advice
Pics:
pixabay