Despite the recent rebound in stocks: The relative performance of small-cap stocks is nearing new lows, revisiting levels not seen since the peak of the tech bubble. https://x.com/TaviCosta/status/1931384908456362234
Retail investors bought +$23 billion of US equities in May, adding to +$40 billion in March and April. This is roughly in-line with $25 billion in average monthly net purchases this year, according to JPMorgan. Year-to-date, individual investors have bought a record +$150 billion in ETFs and single stocks. Over the last week, retail traders purchased $6.8 billion, with $4.4 billion flowing into Tesla, $TSLA. However, the average retail investment portfolio is now down -2.6% year-to-date, underperforming the S&P 500's increase of +1.0%.
Retail is going all-in on this market. https://x.com/KobeissiLetter/status/1931441030483607800
