More and more retail investors are piling into the market, especially millennials, TD Ameritrade CEO Tim Hockey told CNBC on Thursday.
In January, the e-trader saw an average of 975,000 trades per day.
“There is an enormous amount of new retail money coming into the market,” he said in an interview with “Closing Bell.” “It’s been an amazing ride.”
Hockey said the rise in interest is likely a byproduct of the excitement around the emerging cryptocurrency and cannabis markets. But as people start to build portfolios, Hockey said, they will likely venture out into other sectors.
Plus, the rise in volatility has also made people more aware of the possibility for large-scale gains, attracting once-skeptical investors who may have sat out of the nine-year bull…