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Young people have increased their presence on investment platforms in recent weeks, wanting to take advantage of the opportunities that the market is leaving.
Every cloud has a silver lining. This saying for the stock market has to do with the consequence of the stock collapse as a result of the advance of Covid-19. And is that the platforms with which you can invest have reported a significant jump in demand before investors who They seek to take advantage of the opportunities generated by the sharp falls.
According to what was reported by CNBC, there are several platforms that have seen their operations increase. For example, it is the case of Robinhood investment app that posted daily hikes of up to 300% in the first three months of the year or eToro and Raging Bull Trading that increased demand by 220% and 158%, respectively, during the same period. Another example is Wealthsimple Trade, a platform that reported a 54% increase in new users since the end of March when stocks started to recover.
But who are the ones who are betting? Millennials. 55% of new Wealthsimple users are under 34 years old. That is not surprising for Jeff Bishop, founder of Raging Bull Trading, who indicated that many young people are looking for new opportunities to make money.
“Many people are at home and have more free time. And sadly, many have lost their jobs and are looking for new opportunities,” Bishop told CNBC.
“Younger investors are looking for ways to get their money back,” adding that “they are really interested in low, ramshackle stocks.”
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