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The retail trading trend has been gaining steam driven by millennial and Gen Z traders’ investments in meme stocks and cryptocurrencies that has been amped up by social media frenzies. The SEC’s former Chairman Jay Clayton believes social media influence on trading is likely here to stay. These traders have been flocking to platforms such as Robinhood Markets , Inc. (NASDAQ:HOOD) for commission-free trading. And given the popularity that meme stocks have gained in recent months, Nasdaq Inc. plans to add a retail stock tracker on its website for transparent tracking of retail stock activity.
Driven by retail investors’ sentiments, meme stocks Rivian Automotive, Inc. (RIVN) and Sundial Growers Inc . (NASDAQ:SNDL) gained more than 40% in price last week. So, we think it could be worth adding these stocks to one’s watchlist.
