Finance

Main Street investors diving into speculative penny stocks and SPACs is disturbing trend

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For several weeks now, I’ve been ranting about the wild speculation in low-priced, no-name stocks that have run rampant on Wall Street via Main Street investors.

I’ve been tracking the movement of these stocks for several weeks and have noticed, almost every single day, a new stock, or five, crosses the lower tape on the CNBC ticker.

I keep adding those to my personal watch list which is getting longer every single day.

While it’s nearly impossible to use indicators of speculative froth as a market timing tool, I have to say it’s disturbing that so many penny stocks are making such big moves on a daily basis.

It’s not disturbing because individual investors don’t know what they are doing ……



Source cnbc.com

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