A chunk of President Joe Biden's coronavirus relief package is poised to end up in the stock market and could provide a boost for GameStop and other stocks embraced by individual investors active in online social media forums.
A Deutsche Bank survey of 430 retail investors last month found that on average they plan to put 37per cent of any stimulus checks directly into equities. If stimulus payments do flow into the stock market, they could end up disproportionately going to GameStop or other stocks favored by retail investors active on social media platforms.
The stimulus payments could add fuel to interest from individual investors that has already been rising, with the COVID-19 pandemic leaving Americans with more time in front of their computers or on their smartphones.