LONDON (Reuters) – Investors’ cash continued to flow at unprecedented levels into stocks last week amid a retail trading frenzy which saw shares in GameStop soar over 2500% year-to-date at one point, BofA’s weekly flow data showed on Friday.
Inflows in the last three months soared to a record $272 billion while U.S. small cap firms, at the centre of the current amateur trading fever, saw its second largest ever inflow of $29 billion.
Bofa analysts added they expected to see a 10% correction in equity markets in the coming months.
(Reporting by Julien Ponthus; editing by Thyagaraju Adinarayan)
