Tesla and Apple rallied after their stock splits earlier this month, but then took big hits. If you're enamored with any one company, remember that reversals of fate are common on Wall Street. "We spend too much time trying to predict a future that's not predictable," McClanahan said. Yet no one has a crystal ball to be able to tell which companies will go up and which ones will go down, said CFP Carolyn McClanahan, director of financial planning at Life Planning Partners. More from Your Money Mindset: What to know about buying life insurance amid pandemic College kids worry about finances amid ongoing pandemic Experts warn against using stimulus money for vacations "No one likes to hear from their buddy that they've just tripled their money on Zoom and they didn't," said certified financial planner Douglas Boneparth, founder and president of Bone Fide Wealth in New York. Delta Air Lines, meanwhile, plunged by more than a third. Between the middle of March and the end of August, computer game company Nvidia was up nearly 95%, according to Morningstar Direct. To that point, during the pandemic there have been stark winners and losers. "But they are just as likely, maybe more likely, to suffer big losses." "People are obviously attracted by the promise of big gains," Roper said. In addition, he said, people are doing things they normally wouldn't because of all the additional time they have on their hands.Īnother reason? "There are a lot of ads on day-trading for beginners," wrote Barbara Roper, director of investor protection at the Consumer Federation of America, in an email.īut trying to make a profit by buying and selling individual companies over a short period of time can backfire, financial experts say. Millions of unemployed Americans "feel it is a method they can use to replace the lost income," he said. Lawrence Sprung, a certified financial planner and president of Mitlin Financial, based in Hauppauge, New York, believes day trading is up for a few different reasons. TD Ameritrade reports that visits to its website giving instructions on trading stocks have nearly quadrupled since January. Meanwhile, trading apps like Robinhood are seeing a surge in business. Activity has "increased dramatically" in the first quarter of 2020 compared with 2019, according to data analyzed by Cerulli Associates. Personal Loans for 670 Credit Score or Lowerĭay trading has become very popular worldwide since the onset of the coronavirus pandemic. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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