Cross-posted from FTAlphaville:
If you had managed to avoid reading the financial press for the past few weeks, and then decided to catch-up on today, you might notice a new phrase being banded about in market commentary. Namely, “Robinhood investors”.
Shorthand for retail punters utilising commission-free brokerage platforms (such as Robinhood) to buy stocks, a decent amount of the downright euphoric market action since mid-May, particularly in struggling single-name stocks, has been attributed to this great unwashed mass of day-traders. Including, we should add, on this blog.