Many Americans are turning to Reddit for stock tips after Wall Street Bets captivated markets during the GameStop saga
- A recent survey by Travis Credit Union shows that 70% of respondents who said they invest look to
- As for their favorite
tradingplatform, 39% say it's Robinhood.
- The survey was conducted from February 15 to March 2 among 2,052 Americans.
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Among the many aftereffects of the GameStop saga earlier this year is an increased interest in Reddit as a source of stock picking advice and investing tips, a recent survey shows.
A survey by Travis Credit Union conducted between February 15 to March 2 among 2,052 Americans revealed that 70% who said they invest look to Reddit for stock tips.
"Today, there's a lot of positive energy around the
As for their favorite trading platform, 39% said it was Robinhood, followed by E-Trade at 19%, WeBull at 12%, and Fidelity at 10%.
A majority said they check their accounts daily, while 32% check theirs weekly.
Among all the respondents, 1,275, or 62%, said they have invested only recently. Most said they used what they called "extra spending money," though one in four surveyed said they invested less than $500.
The rapid rise of retail investors has been a powerful force in the stock market, enabled by a range of factors including commission-free trading, distribution of government stimulus checks, and heightened pandemic boredom as many people continue to work from home.
While more than 57% who were surveyed think the boom in retail trading was "great," around 10% found it "problematic."
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