Robinhood, eToro, and Raging Bull Trading Report Millennials Are Spending Their Stimulus Check on Online Stocks
Would you invest your Stimulus into retirement savings or stocks?
I know Marissa Pitts will be investing in BOTOX! aha
In an article from CNBC titled: Millennials Are Piling into Stock Trading to Beat the Market. Here’s What You Need to Know by Karen Gilchrist.
As travel plans this Summer are being canceled – Millennials are jumping into the stock market through online stock trading platforms.
Investing app Robinhood saw record deposits in the first quarter of 2020 with daily trades up 300%. Elsewhere – eToro and Raging Bull Trading saw demand surge 220% and 158% respectively.
Millennials – I understand that everyone is trying to make some extra cash during these tough times – BUT – be smart with how you handle your money!
Ben Reeves, Chief Investment Officer at Wealthsimple told CNBC Make It:
“Millennials should be leaving their money into something boring like your retirement fund.”
Raging Bull Trading founder Jeff Bishop states that Millennials should be trying to establish an amount they want to make each month before investing in stocks.
CCS family – Have YOU ever thought about investing in stocks during the coronavirus? Let us know in the comments below.