Main Street investors are running the show this year, not Wall Street

Institutional investors are once again playing catch-up with retail traders, according to JPMorgan. Mom-and-pop retail investors have bought newly crowned meme stocks such as Opendoor for months, according to the Wall Street investment bank. But only recently have big investors also jumped into this trade. The bet has paid off. After seven straight losing months, Opendoor posted a dizzying rally of 245% in July, and is up another 30% so far in August. OPEN 3M mountain OpenDoor shares over the past 3 months This marks only the latest example of small investors leading the charge this year, according to Arun Jain, a global markets strategist at the bank. "As an interesting pattern within 'Meme' stocks … retail buying in prior months is followed by non-retails joining the trade more recently,