Decoding the Gen-Covid Investor

RIWI and the University of Toronto’s Rotman School of Management’s FinHub have gathered and analyzed a unique dataset on the new entrants to the US stock market in 2021.

Throughout the COVID-19 pandemic there has been a surge in interest in stock market trading by retail customers but no detailed, reliable data on who the new investors are and what motivates them. This dataset and analysis aims to fill that gap and benchmark this new phenomenon. The study uses RIWI’s random, anonymous engagement approach among the US Web-using public to reach over 1,600 first-time investors and almost 2,500 established investors. RIWI collaborated on the study with Andreas Park, Professor of Finance at the University of Toronto, and director of the FinHub.

To access the study, please download it here.

To access the original dataset or to extend the study in the US or another country, please contact Danielle Goldfarb (



Image Credit: Anna Nekrashevich licensed under Pexels