Retail investors are piling into Nvidia after the company's record quarter. Retail investors purchased ~$250 million in Nvidia, $NVDA, shares on Wednesday, their 3rd-largest daily purchase since mid-May. This extended the buying streak to 15 consecutive trading sessions. Over this time, retail investors acquired +$2.5 billion in $NVDA shares. By comparison, the largest retail daily purchase was recorded in late February, at +$1.0 billion. Over the last 12 months, retail investors have purchased +$30.0 billion in Nvidia stock, the most among all Magnificent 7 companies. For retail investors, Nvidia remains at the center of the AI trade.

Retail investor demand for chip stocks is incredibly strong: Total assets under management (AUM) in the US memory ETF, $DRAM, have surged +20% over the last 2 months, to a record $28 billion. This is despite a -28% decline in the fund’s price over the same period. This comes as the fund has attracted +$12 billion in inflows during this time, with all 8 consecutive weekly inflows. In total, $DRAM has pulled in +$27 billion since its inception on April 2nd, and has gained +98%. Meanwhile, the 2x leveraged long memory ETF, $RAM, has seen +$893 million in inflows since its debut on June 24th. Investors are piling into memory stocks at an unprecedented pace.

Retail Investors Are Back on Bitcoin 👀 Retail Investor Demand, based on $0 to $10K transfer volume, has increased 9.36% over the past 30 days. Small investors are becoming increasingly active on the Bitcoin network.

Retail Investors - Total US market (not only Tesla specific) - Retail moving out of single stocks - Institutional options extremely long - Confirms my analysis of last week Vanda’s latest US equity positioning chart (below, Aug 14) is one of the cleaner signs I have ever seen. Retail single stocks (excluding ETFs) are all the way down at a –4 z-score. That’s the most underweight they’ve been in years. Retail is still extremely active, just net selling hard and getting a lot more selective instead of blindly buying everything. Meanwhile the other side of the market, institutions, looks completely different: Systematics are net long, institutional options are the most long of the group, and CTAs (trend-following managed futures funds) are also solidly positive. L/S hedge funds are mildly short, but nothing dramatic. So you’ve got retail dumping single names while the systematic and options crowd is leaning long. Retail isn’t abandoning equities overall — they’re just rotating harder and shifting more into ETFs. Extremes this big in one cohort usually end up mattering for flow dynamics over the next few weeks/months.