Weekly update on US COVID-19: We have a long way to go. Cases per day are averaging over 60,000 and Hospitalizations are growing rapidly.
Given that cases starting increases and then, after two weeks, hospitalizations started increasing, and now deaths are starting to increase we have a long way in this cycle until we have a long way to go until we probably see a roll back of restrictions in many states.
This is a negative for growth in Q3. I expected GDP estimates to start coming in.
A lot of talk about Robinhood users. The question is why has there been such an increase in the number of users the last few months? I’ve heard the suggestion (and personally thought) it was gambling related. However, it’s almost certainly just people looking to be entertained.
In this graph, I’ve plotted the change in Robinhood positions (weekly smoothed) and some of the major events in 2020.
If you follow the lines, you can pretty much see the story: People were bored and were looking for entertainment.
Just in case, you don’t believe me, here is the Google Trend for Banana Bread (You can use stay at home or puzzles or whatever COVID entertainment search term you want) and RH user changes.
Trading was just another form of entertainment. We’ll look at how much the game cost soon.