For Retail Stock Traders, This Is a Party They Can’t See Ending
- Basket of day trader favorites has soared 75% this year
- Retail traders are doubling down on vaccine breakthroughs
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Mom-and-pop stock traders, reaping the rewards of a faith that has proved prescient all year, are doubling down on a rally that has pushed valuations into uncharted land.
Their voracious appetite for equities, unchecked by the pandemic or presidential transition, has sent markets to records and is whipping up volume in the normally sleepy Thanksgiving week. More than 26 billion shares changed hands on American exchanges over the last two days, up 72% from the same stretch a year ago. Demand is swamping brokerage websites, with both Vanguard and Merrill Lynch confirming their platforms experienced outages today.