Retail Traders Now Account for 30% of U.S. Stock Daily Volume, Drive Price Discovery: Goldman Sachs

According to Goldman Sachs data, retail traders now account for approximately 30% of daily U.S. stock trading volume and have become the market's primary price setters and trend drivers, reshaping a market traditionally dominated by institutions.

Retail stock trading in May 2026 reached 10% higher than the peak during the meme stock frenzy of January 2021, with June and July posting fresh record highs. Options trading has surged alongside this trend, with multiple trading days this year exceeding 50 million contracts in daily volume, double the levels from three years ago. Separately, self-directed brokerage accounts hold approximately $12 trillion in stocks, representing roughly 10% of the total U.S. corporate equity market, according to Goldman Sachs estimates.