Young generation is known for taking higher risks in physical activities or with their life in general but that risk profile has now manifested in investment sector. During the pandemic, online investment apps like Robinhood, eToro, Binance and MetaTrader have gained popularity as youngsters have flocked to invest in stocks, crypto-currencies and commodities. In the past, investment in stocks has been mainly a domain of hedge funds, investment funds and investors in mid-life, the new trends suggest that a lot of youngsters have jumped into stock markets.
During the pandemic, many people werent having many options as they were locked at home. This led to a rise in demand for online entertainment, online gaming, esports, online casino and trading in stocks.
Online Investing Communities
A community of investors and traders named WallStreetBets came up on social media platform Reddit and they are taking a direct fight with hedge funds and the big investment firms on Wall Street. The group has 10.7 million followers and some of them are ready to take risks, firmly believing in the stocks promoted on the forum.
WallStreetBets has managed to push up prices of many stocks including GameStop, AMC, Palantir, Tesla Motors, NVIDIA and ContextLogic. This group usually supports stocks with low volume and with their army of traders and followers, they can push up the prices easily. As per a Financial Times report, WallStreetBets has become such a force in investment community that even a few hedge funds have been keeping track of this forum.
Investment and financial services firm Goldman Sachs has predicted that retail investors will continue to influence the market during the current year. Retail investors have been a major force in the markets during the last few quarters. As per Goldman Sachs report, retail investors are expected to invest close to $400 billion into stocks during the rest of the year.
Online Gaming Industry Gains Market Share
Other industry benefiting from the pandemic is online casino, igaming and sports betting. Online casino apps have witnessed a strong growth as people were not having the option to go to land-based casinos or sports-betting venues. As the sports events have started in the recent months, the interest in sports betting will rise as well. Online casino games like blackjack, poker, craps, keno, slots and baccarat have been gaining popularity among people using these apps. Also, live dealer games are getting popular as they offer a much better experience for players.
Future for esports looks Promising
During pandemic, esports companies have also gained prominence. Many new gaming titles have been planned by Activision Blizzard, TenCent Holdings, Take-Two Interactive and EA Sports. These game developers are also supporting many major esports events. The future for esports is looking promising as many new gamers will join the party.
Work from Home and Remote Working is the future for many employees
With COVID-19 pandemic, the focus has shifted to online services, online entertainment and work from home. Technology companies like Apple, Infosys Technologies, HCL Technologies and Tech Mahindra have recently announced that some of its staff may not return back to office and would continue working from home. Work from home is a good option for both employees and employers. In case of women employees who have to manage their household, this is very favorable option. Studies conducted by staff firm Manpower Group has found that for certain industries, work from home improves efficiency and also increases employee satisfaction with the job.
With increased levels of vaccination, we might be able to control COVID-19 pandemic in near future but the changes brought up by pandemic among the workforce and corporate culture, will remain for a long time.