Half of GameStop stock buyers were first-time traders: survey

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Half of GameStop stock buyers were first-time traders: survey

Cardify CEO Derrick Fung told FOX Business’ “Varney and Co.” that company data revealed 50% of GameStop stock buyers were first-time investors.

Stocks like GameStop and AMC Entertainment made headlines in late January after seeing an unexpected surge in volatility following web postings on the popular Reddit message board WallStreetBets.

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Many of these traders were new to the game, according to Cardify, which tracks consumer spending across debit and credit cards.

Fung said his company ran “both quantitative and qualitative surveys” and found details on the makeup of the GameStop investor crowd, as well as how they feel about the trading app Robinhood after it paused trading on some stocks during the short squeeze…Read more>>

Source:-foxbusiness

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