Retail Investors Show "Exuberance"

Here are some illustrative figures. The first shows the number and value of initial public offerings. 

This figure shows the rise of the "blank cheque" SPAC companies. 

This figure shows data based on Google searches about interest in the stock market. 

Sirio Aramonte and Fernando Avalos contribute a short "box" discussion to this article with more details on "The rising influence of retail investors." They write (the graphs to which they refer are included below):

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