Finance

Gamblers pivot to stock trading during lockdowns

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In a normal year, sports fans would be gearing up for the NBA playoffs at the end of May. This spring, with no live competition, some are searching for thrills in the stock market. 

U.S. brokerage firms have seen a flood of retail trading activity in recent months. Analysts say a lack of pro sports-betting and casinos, more time to watch the markets, as well as stimulus checks have added to the day-trading trend during the pandemic. 

Dave Portnoy, founder and CEO of Barstool Sports, said he dipped into the market to get a sense of competition, and fill the void while pro games were on hold. Portnoy had a dormant E-Trade account with roughly $50 in it. But he began investing hundreds of…



Source cnbc.com

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