Despite market volatility, retail investors went on a buy-the-dip spree. These are the stocks they picked up, says Vanda.

Churning financial markets, as the failure of three U.S. banks and uncertainty over one big European one continues to play out, did not stop some investors from buying that so-called dip in the stock market at one point last week.

That’s according to a weekly report released Friday from Vanda Research, which said retail investors picked up $1.43 billion in underperforming financial and energy stocks, as well as some big-cap consumer tech names on Wednesday, following two weeks of sluggish action.

Amid concerns over the health of smaller lenders, they bought “unprecedented amounts” of too-big-to-fail banks, amounting to to nearly $1 billion of retail inflows to financials over the past five days. Vanda’s chart shows the last five day’s net purchases with financials standing out:

Marco Iachini, senior vice president, Giancomo Pierantoni, head of data and Lucas Mantle, data science analyst at Vanda, said Charles Schwab
saw the second-most inflows following Bank of America over the past week.

“Some adventurers” were buying First Republic Bank ,
PacWest Bancorp
and Truist Financials
which they described as “riskier bets that could potentially offer massive…


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