This from Fisher Investments (no relation):
Both recent and longer-running trends may also factor in the surge of new accounts. Major online brokers started offering commission-free trades late last year, perhaps enticing some new participants. COVID-19 may also have an indirect role. Rising investing interest could be a byproduct of the astronomical savings rate tied to a lack of spending and increased stimulus-driven savings. There is also the “boredom” theory: With many staying at home due to shelter-in-place orders, some people may be making some trades while their sourdough boules rise. A few may even be fulfilling their sports-betting fix by day-trading speculative penny stocks.
Robinhood's growth is amazing!
The latest numbers confirm online brokers have seen a huge influx of new accounts. Robinhood, an app-based brokerage launched in 2013 that is popular with younger investors, reported three million new accounts in Q1 2020 after hitting 10 million accounts total in December 2019.