Retail investors bought just $1 billion of individual stocks over the last 20 trading days, near the lowest 20-day total in at least two years. Total retail equity purchases have also slid to $10 billion over the same stretch, down sharply from earlier in 2026, while institutions keep buying.
Retail investors have pulled back sharply on buying individual stocks, with recent purchases near the lowest levels in at least two years. Over the last 20 trading days, these buyers bought just $1 billion of single stocks, according to The Kobeissi Letter. By comparison, that same 20-day measure stood at $20 billion in April 2025.
Retail pullback deepens
In early August, the 20-day single-stock measure briefly turned negative for the first time since at least October 2024. According to The Kobeissi Letter: "Retail investors are becoming more cautious."
Total retail equity purchases have declined to $10 billion over the last 20 trading days, near their lowest reading since at least October 2024. That is down 67% from the $30 billion recorded over the 20-day period in February 2026.
Institutions keep buying while retail sells
The Daily Hodl previously reported that institutions bought billions in US equities in mid-September while retail accounts extended weeks of outflows. The Kobeissi Letter said institutional investors bought $4.1 billion in US equities in the week ending September 18. Retail investors, meanwhile, sold $2.2 billion last week, posting their eighth consecutive weekly sale.
Retail investors have now sold an average of $1.9 billion in US equities per week over the last four weeks, even as institutions keep adding to positions in the broader stock market.
Source: The Daily Hodl
Trading involves risk.
Risk Disclaimer
