There’s evidence the Reddit-fuelled retail trading frenzy time-stamped by GameStop on Wall Street is accelerating in Australia as wild price moves in penny stocks and small caps spike in regularity.
Data out of Australia’s leading retail broker Commsec last week showed a virtually unknown Alaskan oil explorer named 88 Energy was the most traded stock on the entire ASX by contract note volume over the week ending March 29.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
