Retail Stock Purchases Slow to Lowest Since 2020
Retail investors bought a net $13.0 billion in US equities over the past month, the smallest amount since 2020, according to VandaTrack. Net purchases have dropped 58% since early 2026, while single-stock buys fell 71% to $3.2 billion.
Retail investor enthusiasm for US equities is cooling sharply. According to VandaTrack, net purchases of US stocks by retail investors totaled just $13.0 billion over the last month — the lowest monthly net inflow since 2020.
Net retail monthly inflows have declined by $18.0 billion, or 58%, since early 2026. Single-stock net purchases fell even more dramatically, dropping $8.0 billion, or 71%, to $3.2 billion — the lowest level since the first quarter of 2020.
Despite the slowdown in net buying, total retail trading turnover has reached a record $500 billion, doubling since mid-2024. This indicates that while retail investors are still active, they are now selling stocks almost as aggressively as they are buying, compressing net flows.
Source: The Kobeissi Letter