The Wall Street Journal: speculative fervor is back

Individual investors have purchased an average of $1.35 billion a day of U.S. stocks and exchange-traded funds on a net basis so far this month, according to Vanda Research through Thursday.  That puts their purchases on pace for their highest monthly average since January, the month when the recent bull market peaked. 

The clamor is reminiscent of the speculative fervor that cascaded over markets in 2020 and 2021, when millions of Americans got hooked on trading stocks, options and cryptocurrencies.  Stuck at home during the Covid-19 pandemic and flush with stimulus checks, newbie traders banded together on online forums, pushing up shares of favorite stocks.  Some made small fortunes.  Others lost big.

~ Caitlin McCabe, "Meme-Stock Investors Are Back! Sort of, Anyway," The Wall Street Journal, August 13, 2022