|  During the pandemic, we saw a new wave of retail investors open brokerage accounts and begin their trading and investing careers. More than 10 million new brokerage accounts were opened in 2020 -- a record. It's estimated that about 27% of those were opened on the popular trading app Robinhood. As we rolled into 2021, this platform was used to fuel much of the trading fury in "meme stocks" such as GameStop (NYSE: GME) and AMC Entertainment Holdings (NYSE: AMC). As you're probably aware, many of these new traders ended up speculating. Some dabbled in risky options bets on a near-daily basis. It's been fascinating and entertaining to watch all these new traders upset Wall Street and some hedge funds (see Melvin Capital). But for some traders, it's also provided a mighty lesson in taxes. Read More... |
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