STOCKHOLM, June 19 — At 7am this morning, Dean d’Arco, 31, a phone shop manager from Belfast, Northern Ireland, logged on for his last day as a round-the-clock armchair stock market trader. During almost three months on coronavirus furlough, he was one of a swelling number of stuck-at-home...
File photo shows traders working on the floor of the New York Stock Exchange February 10, 2014. — Reuters pic
As lockdown lifts, d’Arco is now returning to work, but he doesn’t plan on giving up his new-found interest in financial markets entirely. “I only play with savings I can afford to lose and I’ve made a good return and have no regrets,” McVeigh, who is a quantity-surveyor by trade, said. “We began to see record levels of activity when the coronavirus pandemic started,” said Johanna Kull, an economist for Swedish trading app Avanza.
A WhatsApp messenger group chat set up to plan a now-cancelled holiday became an active stock market discussion forum when McVeigh started talking about the plight of his ex-employer, a listed company he had staff shares in.Fuelled by the stimulus packages, trading indexes have rallied hard since lows in March, with the Nasdaq last week briefly beating the 10,000 mark for the first time.
The pair say that in general, though, buying stocks feels different to gambling because it is not a win-or-lose proposition like betting on the outcome of a football match.
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