Over 50% of US investors think the stock market is rigged against individuals, a Bankrate survey finds

GettyImages 1229642626
A woman walks past the New York Stock Exchange (NYSE) at Wall Street on November 16, 2020 in New York City.

  • 56% of investors surveyed by Bankrate say they strongly agree or somewhat agree that the stock market is rigged against individual investors.
  • Meanwhile, 41% of Americans surveyed who don’t have any money invested in the stock market also agreed with the notion.
  • The survey sheds a light on recent retail investor sentiment following the Reddit-driven trading surge in January.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Over half of US investors think the stock market is rigged against individuals, according to a survey of 2,525 Americans from Bankrate.

In a February study, 56% of investors surveyed and 41% of non-investors either “strongly agreed” or “somewhat agreed” with the statement: “The stock market is rigged against individual investors.”

Overall, 48% of American adults surveyed either somewhat or strongly agreed with the statement. More than 18% strongly agreed with the statement, and roughly 29% somewhat agreed. Meanwhile only 13% disagreed with the statement, with the rest remaining neutral.

The results come after the Reddit-driven market frenzy in January that saw Robinhood halt trading of many “meme stocks” stocks, prompting retail investors to argue they’re at a disadvantage.

The Bankrate survey revealed that more than 39 percent of American adults had no money invested in the stock market either before the pandemic or currently.

Other findings include:

  • 20% of investors said they’re investing more now than before the pandemic, with younger investors adding more than older cohorts.
  • 39% of American adults had no money invested in the stock market before the pandemic or currently.
  • Investors who identified as Reddit users were more than twice as likely to invest more now than less now compared to pre-pandemic.

The Bankrate study was conducted via online interview by YouGov Plc from Feb 24-26 2021. 2,525 adults were surveyed and data was intended to be representative of all US adults.

Read the original article on Business Insider