Introduction

2020 has been a tumultuous year in the financial markets. In March, as Wall Street became aware of the coronavirus pandemic, the Dow Jones stock index fell 11,000 points from its February high, triggering fears of a second Great Depression. But now in July, despite the severe economic hit Main Street has taken, the Dow has recovered most of its losses. Furthermore, retail investors have piled into stocks and sought speculative gains on popular trading apps such as Robinhood.