4 ms·
> #4 People are using their stimulus checks extra unemployment money to invest in stocks Really? I'd normally guess that people with high incomes are most like
by abeppu 6y ago
> #4 People are using their stimulus checks extra unemployment money to invest in stocks
Really? I'd normally guess that people with high incomes are most likely to invest, and to qualify for a stimulus check you couldn't have a really high income, right? And if you're receiving unemployment, people at the higher end of the income range will be receiving less because of benefit caps and won't have "excess" income, right?
I've heard claims in the past that a large share of stock is held by the wealthiest minority (like the top 10% owning > 80% of stock or something, the top 1% owning ~50% etc). Can the people investing their stimulus or unemployment benefits really change prices that much?
- everdrive 6y agoUnless one spouse makes ~100k and another spouse makes very little. Then you'll get two checks.
- subsubzero 6y agoI put this at the bottom as it seems the least likely in my opinion and makes the least sense. I've heard this with robinhood traders on many financial sites as explanations for stocks jumping as people are spending their stimulus checks day trading. source - https://www.cnbc.com/2020/05/21/many-americans-used-part-of-their-coronavirus-stimulus-check-to-trade-stocks.html https://www.cnbc.com/2020/05/21/many-americans-used-part-of-...
- imtringued 6y agoMost people don't own any stock at all so it is not very surprising.