Retail investors be reacting to anything, but in an unprofitable way. I see some friends snd colleagues rush to buy zero revenue company stock when they are sky high, only to sell when they down 30%.
There seems to be no certain plan or play in sight, they just buy and hope it goes up. Absolutely no fundamental analysis, stop losses, or risk management. Market goes up, they buy more at peak, market goes down, they panic sell.
Feel bad for them, some even realized loss up to 100k, and their whole college savings, then they call it rigged. Seems like the get rich quick thing has carved into this generation’s mind so much.
I think more people need financial advisors than they think.