Social Distancing During COVID-19 Pandemic: Short Term Pain – Long Term Gain
Unsurprisingly, the hashtag #socialdistancing is trending on Twitter while the COVID-19 pandemic continues to ravage the planet. Not just trending – booming. The introverted Gen Z culture has finally received a legitimate reason to stay glued to computer screens and spend little to no time outside. Gamers are now in the mainstream – downloads surge to previously unseen heights. Online trading activities skyrocket. According to Sandler O’Neill, the last 5 trading days of February 2020, as the markets reacted to the threat and then the reality of the pandemic, saw more than 10 billion shares traded each day, with February’s industry share volume averaging 9.3 billion shares per day – a 19% increase over January 2020, and a 28% jump since February 2019. Since then, trading activity among individual investors has nearly doubled, according to Fidelity and E*TRADE.
The world of finance is in the final stages of moving online completely and we should be happy. Despite severe shock that the Covid-19 pandemic may cause in the coming months, we do believe that the world will endure and come out stronger and much better prepared for the economic challenges of the 21st century…
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