A Week Like This Was a Long Time Coming for Day-Trader Faithful
- Two-day Nasdaq 100 sell-off reached more than 10% at a point
- ‘It was parabolic and it had to sell off eventually’: Investor
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Last month, when the Robinhood investor app announced plans to shut off the feed that showed what its clients were buying, data sleuths mourned. Chronicling the love affairs of retail traders in the stock market had become a pastime -- what would they do without it?
The information vacuum didn’t last long. On Monday, enticed by stock splits at Apple Inc. and Tesla Inc., demand from amateur equity enthusiasts was again thrust into plain view -- when their orders crashed discount-brokerage websites all over Wall Street. The wailing crush of buying added $200 billion to the market value of the two tech giants, extending mammoth runs.