Retail investors are pouring a record $1.5 billion per day into the stocks
Individual investors have been snapping up stocks at the fastest pace on record as U.S. equity markets have charged higher to start the year.
Tesla remained the favorite among this group, with retail inflows to the stock totaling $9.7 billion year-to-date in 2023 so far.
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Retail investors are pouring a record $1.5 billion per day into the stocks according to data from research firm VandaTrack#StockMarket #Retail #investors pic.twitter.com/DQ41NpAsNE
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Over the past month, retail investors funneled an average of $1.51 billion each day into U.S. stocks, the highest amount ever recorded, according to data from research firm VandaTrack published Thursday.
“With recent surveys showing the institutional investor community remaining broadly bearish on stocks, it would be unwise to underestimate the importance of the retail cohort,” strategists at VandaTrack said in a note. “That’s in keeping with retail sales and jobs data for January, suggesting that consumers retain impressive levels of buying power.”
In the last month, retail investors poured an average of $1.51 billion per day into U.S. equities, the highest amount ever recorded. (Source: VandaTrack)
In the last month, retail investors poured an average of $1.51 billion per day into U.S. equities, the highest amount ever recorded.
- Tesla (TSLA) remained the favorite among this group, with retail inflows to the stock totaling $9.7 billion year to date.
Those allocations come during a comeback rally for the electric vehicle giant after closing out its worst year on record in 2022. Tesla shares have gained 74% in 2023 through Wednesday’s close.
The SPDR S&P 500 ETF Trust (SPY), an ETF which tracks the benchmark S&P 500, has been the second-most popular purchase by retail investors this year, with retail flows totaling $3.6 billion in 2023. The index is up 8.2% year to date through Wednesday.
Amazon (AMZN), Apple (AAPL), and Nvidia (NVDA) rounded out the top five, receiving $1.8 billion, $1.7 billion, and $1.4 billion in inflows this year, respectively. These names were up 20%, 19.5%, and 55.8% this year in that order.
