Yesterday's remarkable stock market recovery suggests that retail traders who upended markets over the last year continue to be powerful influence.
The remarkable recovery suggests that retail traders who upended markets over the last year — most notably during the GameStop bonanza that occurred almost exactly a year ago — continue to be powerful influence in the markets.Shortly after 12 p.m., the S&P 500 was down by nearly 4% and the tech-heavy Nasdaq composite was down almost 5%.
There was no obvious or fundamental news that emerged in the afternoon Monday that should have heartened investors that much.What seems to be happening, however, is a prime example of retail investors buying the dip. Essentially, individual traders are stepping up to buy shares on the expectation that the markets will turn around, because, well, they usually have.
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