In the evenings, the Prince Edward County, Ont., teen works part time at a grocery store, where he’s lucky if he pulls in $1,000 per month stocking shelves and cleaning the store.
“It’s almost a perfect storm,” said Smit, who has taken advantage of the current market conditions for profit. “I don’t think this was going on a year ago. I don’t think retail traders like me have had this much impact in the markets.”In the first quarter of 2020 alone, discount online brokerages in Canada added 500,000 new accounts, according to Investor Economics, meaning that they’re growing at three times their normal pace. That same growth was seen in the U.S.
These investors had little knowledge before entering the markets and many admit they still don’t — several referred to real estate investment trusts as “R-E-I-Ts”, spelling out the acronym instead of pronouncing it as a word. The group’s nervous relationship with investing is perhaps no better explained than through 26-year-old Bradley Ferns of Scarborough, Ont. When the moment came for Ferns to start creating a portfolio, he was still so anxious that he only bought a single share of Air Canada to test the waters. He spent the next days watching his balance increase by pennies, instead of dollars.
Josh Hanson, a 36-year-old investor in Calgary, didn’t have the best start to investing because of some bets that went awry on penny stocks. Hanson said he is improving and has clawed back some of those early losses, but those mistakes are still overshadowing the good trades he’s made so far. This craze, however, was short lived. Trading volume has already dropped off and so have new account sign ups. What the brokerages saw throughout March and April was never going to be sustainable. Not only that, but Graham believes the market crash may have pulled forward some future accounts and the following years may see weaker than average numbers as a result.
Same as online gambling.
Pfft. My land is worth way more than a bunch of stocks on a piece paper.
Haha! How much soy milk and craft beer can you make before the market is saturated?
Haha had a good time short selling shopify today. These idiots have been duped into pumping it for the past few months.
Lol let's check back in on this market in two weeks.
Inheritances.
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