Recent data shows that retail investors have significantly reduced their purchases of individual stocks, reaching some of the lowest levels in years.
According to The Kobeissi Letter, over the last 20 trading days, retail investors only bought $1 billion worth of single stocks, marking one of the lowest 20-day totals in at least two years.
“Retail investors are exhibiting a more cautious approach,” states The Kobeissi Letter.
In early August, this 20-day buying measure briefly dipped into negative territory for the first time since at least October 2024.
For context, retail investors purchased $20 billion in single stocks over a 20-day period in April 2025.
The Kobeissi Letter further notes,
“Moreover, total equity purchases by retail investors have dwindled to +$10 billion over the past 20 trading days, approaching their lowest levels since October 2024.
Retail equity purchases have dropped by -67% from the +$30 billion recorded over a 20-day period in February 2026.”
A recent report by The Daily Hodl highlights that institutional investors made significant purchases of US equities in mid-September, while retail investors continued to experience outflows.
The Kobeissi Letter adds,
“Institutional investors acquired +$4.1 billion in US equities in the week ending September 18th… Meanwhile, retail investors sold -$2.2 billion last week, marking their 8th consecutive week of net sales. Retail investors have averaged -$1.9 billion in US equities sold per week over the past 4 weeks.
Institutions are on a buying trend while retail investors are selling.”
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