Retail Traders Show Signs of Recoil After Wild Market Ride
- Fidelity saw a 24% decline in new retail accounts last quarter
- Traders cite return to work and ‘not that many opportunities’
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Kortlandt Taylor began buying stocks in January and almost immediately found herself being whipsawed by the meme stock mania, as GameStop Corp. climbed 1,745% before Robinhood Markets Inc. restricted trading on its app, causing the shares to tumble.
At first “it was going fine,” Taylor, a 27-year-old tax accountant in Atlanta, said in a telephone interview. She’d been investing through Robinhood, but “didn’t like the volatility of the app just around everything that involved GameStop. So I kind of took everything out.”