Public — the investing platform — is attempting to usher in the post-meme stock trading era with a new offering that aims to make trading less “emotional” for retail investors.
Soaring rates, failing banks
and stubbornly high inflation has created an environment of “prolonged, dramatic market volatility” that most retail buyers aren’t accustomed to, Public says, citing a survey it took of its members.Amid the vibe shift, they’re gravitating toward sober topics like portfolio diversification and dollar cost averaging, CEO Leif Abraham tells Axios.
Trying to reap returns in a whipsaw market can lead to decisions "highly influenced by your emotions and whatever’s happening today in the world…autopilot has the ability to put that to the side,” he tells Axios.Whether self-made day traders are ready to trade in Reddit boards and Twitter threads is an open question. Yet the idea of setting a portfolio on autopilot — like most retirement plans do — is a tempting proposition in an unpredictable market.
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