The number of retail, or non-professional, investors has grown exponentially in the U.S. throughout the pandemic. Large retail trading sites such as E*TRADE, TD Ameritrade, and Charles Schwab saw their number of new users increase by 103% compared to last year. At the same time, Robinhood had 3 million new accounts opened in the first quarter of 2020, almost double the first quarter of 2019. The transition from betting to investing is very concerning as it suggests that there is now a large number of investors who treat investing like gambling.
