After a long period of calm, all it took to reignite the meme stock flames was a cryptic post last week from GameStop investor “Roaring Kitty”.
After a long period of calm, all it took to reignite the meme stock flames was a cryptic post last week from “Roaring Kitty” showing a character leaning forward in a chair.
The boom in US sports betting, along with spread betting and contracts-for-difference trading in the UK, are all symptomatic of the new world of finance. A 2022 Bayes Business School study highlighted that turning long-term investing into a game has beneficial effects, with video game techniques potentially teaching healthy financial habits. My Bloomberg Opinion colleague Merryn Somerset Webb has pointed out that maybe traditional asset managers might learn a thing or three from Gen-T.Brokerage firm Charles Schwab Corp. issued a report last week on the UK online trading market, showing it increasingly mirrors the US.
Imagine if the first telephone you picked up was a 5G smartphone; you’d assume all handsets had similar capabilities. Similarly, if your first “investment” was a fractional stake in newly resurgent bitcoin or a soaring Magnificent Seven stock, your mindset is bound to be influenced. Research consultancy Investment Trends highlights that new, younger investors have notably different needs since the pandemic. There’s been a near doubling in online account openings since 2020, many of which are still active, although the pace of expansion has tailed off.
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