Retail investors dump $338 million in largest selloff since COVID-19
Business
Retail investors dumped $338 million worth of stocks in a single day, marking their largest selloff since the COVID-19 crash.
This happened after tech stocks took a hit and the Dow plunged 1,800 points, shaking up markets and wiping out recent gains.
Instead of buying the dip like usual, retail traders decided to cash out.
Retail traders favor ProShares UltraPro QQQ
Normally, retail investors jump in when prices drop, but this time they pulled back from individual stocks and focused on leveraged products like ProShares UltraPro QQQ.
The sudden shift signals a rare moment where even everyday traders hesitated to ride out the downturn.