Retail Traders Stick to Dip-Buying Ways With Record Purchases [Business News Network (BNN) (Canada)]
Advanced Micro Devices, Inc. (AMD)
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Source: Business News Network
Individuals stuck to their dip-buying ways on Tuesday, plowing a net $2.22 billion into the market, a single-day record, data compiled by Vanda Research show. That brought net purchases over the past week to $7.36 billion. Retail traders preferred to snap up index-tracking exchange-traded funds as well as large-cap technology companies. Day traders focused on the SPDR S&P 500 ETF Trust (ticker SPY), buying a net $311 million, and Invesco QQQ Trust Series 1 (ticker QQQ), adding a net $132 million. Technology heavyweights including Advanced Micro Devices Inc., Apple Inc., and Uber Technologies Inc. were among the most-bought stocks by retail investors, according to Vanda data, while Nvidia Corp. and Tesla Inc. were among the most-purchased on Fidelity's platform. In addition to buying the broader market dip, retail traders were swift to snatch up shares of AT&T Inc. as the stock closed at a 12-year low after an executive warned of slowing customer growth. “Retail investors are us
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