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>> I think it's more likely that Robinhood's rapid rise was fueled by COVID boredom. Agreed. The half dozen people I know who were kind of on the back end of t
by at-fates-hands 4y ago
>> I think it's more likely that Robinhood's rapid rise was fueled by COVID boredom.
Agreed. The half dozen people I know who were kind of on the back end of this before they locked up trading made some money off it. Not a lot, but nothing to sneeze at either. Once the whole saga went nuclear, they decided to close out their accounts. Most waited for everything to settle out, sold off all their positions and cashed out.
They haven't been back. It feels a lot like a normal trading cycle. I'm sure the same thing would've eventually happened where people found something else that caught their attention, but the whole GME saga I think speed up a lot of people into other things.
COVID had a weird effect where people found a lot of things to do they normally would not have been doing. Now that things have subsided somewhat, people are moving on from those things and going back to the activities and hobbies they were doing pre-COVID.