Re:The stock market and economy have parted ways
by subsubzero on Monday July 13, 2020 @04:49PM
(#23825407)
I put this at the bottom as it seems the least likely in my opinion and makes the least sense. I've heard this with robinhood traders on many financial sites as explanations for stocks jumping as people are spending their stimulus checks day trading.
source - https://www.cnbc.com/2020/05/21/many-americans-used-part-of-...
Re:The stock market and economy have parted ways
by everdrive on Monday July 13, 2020 @03:48PM
(#23824857)
Unless one spouse makes ~100k and another spouse makes very little. Then you'll get two checks.
Re:The stock market and economy have parted ways
by imtringued on Monday July 13, 2020 @06:22PM
(#23826233)
Most people don't own any stock at all so it is not very surprising.
Really? I'd normally guess that people with high incomes are most likely to invest, and to qualify for a stimulus check you couldn't have a really high income, right? And if you're receiving unemployment, people at the higher end of the income range will be receiving less because of benefit caps and won't have "excess" income, right?
I've heard claims in the past that a large share of stock is held by the wealthiest minority (like the top 10% owning > 80% of stock or something, the top 1% owning ~50% etc). Can the people investing their stimulus or unemployment benefits really change prices that much?