It’s been a year and a half since the first identified case of COVID-19, we have to admit that the pandemic has affected human beings in all possible.
COVID-19 has surely economically, financially, and geopolitically impacted the way we act work and trade. It also has led to a list of new words both in English and many other languages. Here are a couple of interesting linguistic creativities, reshaping our ways of making sense of the dynamics of the global economy.
- Spendemic
The word was coined by The New York Post. It refers to an increase in online shopping during the pandemic. People have been creating a spendemic to comfort their frustration during the lengthy lockdown period. Amazon, the world’s largest online marketplace, has seen strong growth in its e-commerce business and monthly revenues because of the widespread tendency to overspend.
2. Zoom Fatigue
The term means the mental exhaustion associated with the overuse of virtual platforms of communication, especially videoconferencing. Having a new background setting may help you feel more energized to combat zoom fatigue. Zoom Video Communications focuses on reliable video platforms to make your virtual communication needs frictionless. Google, Microsoft, Cisco have also launched their digital communication products to take the market share of the profitable emerging industry.
3. Quarenteen
The word is a combination of quarantine and teenager. It refers to a young person who survived COVID-19 or a child who became a teenager in this decade. Quarenteens were battling against Wall Street about the stock price of GameStop via Reddit, a social network favored by many American teenagers. Instagram, TikTok, and Snapchat enjoy significant growth among young adult users according to a survey released by Pew Research Center. It is undoubtful that the significance of social media platforms will have a say in the outlook of the business world.
With that been said, many people are turning to the financial market (either the OTC or Exchange) and shooting for opportunities in day trading for entertainment and extra incomes.
However, millions of retailers are new to the market and devoid of the basics of financial and technical analysis, trading discipline, and risk assessment. It leads to a negative effect when traders are unable to sustain the losses that day trading could bring.
Spendemic doesn’t happen just on Amazon but also on the deposits to the Crypto Market and the Stock Exchange; Quarenteens were invited to the group discussions on Reddit.com. The trading activity has increased dramatically in 2020 compared with 2019, according to the data collected by Cerulli Associates. Brokerages, for instance, Robinhood and TD Ameritrade are seeing a sky-rocketing number of new account openings. And the community is expecting an even higher volume to be traded in the financial market through 2021.
What are the reasons?
Some believe it is an opportunity to make up for their capital losses during the pandemic. Despite that, other experts commented their thoughts on social media and the advertisements on day-trading for newbies. The community was attracted by the undertaking of big profits that appears on Facebook, Instagram, Reddit, Telegram, and all other social media.
People are spending too much time trying to maximizing their profit in a single trade and turning out to catching the knife. The future is unpredictable. Over 70% of retailers tend to be delayed with the market trends. They might make their decision based on the news feeds on their trading apps, whereas institutions are capable to execute an order with that piece of information before retailers could even finish reading.
Working Hard isn’t Cutting the Path to Success.
For most people, the best thing is to do is owning the S&P 500 index fund, Warren Buffett said.
It is true to invest in a most worry-free index fund. Yet, retailers could also invest in individual instruments/companies by referring to experts’ portfolios. While Etoro, Darwinex, and many other brokers offer copy-trading services which gained access for the retailers to duplicate the trades by the experts. SoFinX is jazzing up the “copy-trading” system to the next stage. A whole new concept of the copy-trading system.
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