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Stockal co-CEO Vinay Bharathwaj on how Indian investors made most of GameStop frenzy

While FAANG and Tesla are favourites and frequently traded, people are seriously investing beyond regular stocks, highlighting the rising consistency in the tracking of US market.

January 30, 2021 / 02:06 PM IST
Image: AFP

Image: AFP

For the last many months, FANMAG stocks were ruling the US markets as these businesses continued to soar, capitalising on the new opportunities created by the coronavirus pandemic. Indian investors were trading millions of dollars a month to tap the hefty returns offered by these companies to balance their portfolios as well as maximise their earnings.

What saw a drastic shift to non-FANMAG stocks was Tesla's India entry, spiking Indian investors' interest in electric vehicle manufacturers.

It’s obvious that social media platforms are turning into digital versions of traditional trading floors. Amateurs and newbies are scouting chat rooms, Telegram, Twitter, Instagram and Slack looking for tips to make quick money.