Teens are becoming increasingly addicted to the gamification of stock and options trading, allowing them to buy and sell ‘meme’ stocks and trade zero-date options directly from their smartphones through well-known trading apps like Robinhood.
A new study from Fidelity Investments, titled “2023 Teens and Money Study,” reveals more than half of the respondents (ages 13 to 17) received a smartphone around the age of 10. By eleven, they spoke with their parents about opening a brokerage or checking account.
One thing the post-Covid world has created is younger and younger gamblers.
And why is that? Well, one word: gamification of trading apps.
During Covid, for example, Robinhood experienced an unprecedented surge of young traders that entered the stock market casino. Thank the government-enforced lockdowns that kept everyone on their couches and the Federal Reserve’s monetary bazooka that led to the greatest stock market bubble ever.
Everyone was a genius when stocks only went vertical. Until they don’t…
In a separate report, The Wall Street Journal said custodial accounts for teenagers at Schwab reached 200,000 in 2022, an increase from around 120,000 in 2019. This number soared past 300,000 in 2023, partly due to Schwab’s acquisition of TD Ameritrade.
Other brokerage firms such as Vanguard, Fidelity, and E*Trade by Morgan Stanley have also seen a rise in custodial accounts in recent years.
To sum up, Western society is turning out even younger degenerate stock traders than ever before through the gamification of stock trading apps on smartphones.
Maybe the kids should put down their smartphones and go outside.
Tyler Durden
Tue, 02/20/2024 – 22:00
