Wall Street: The Speculative Market

Never before have so many bought and sold so much so often. So far this year, the New York Stock Exchange has traded 680 million shares of stock —more than 8,800,000 shares a day—or 58% more than last year. The smaller, swinging American Stock Exchange traded 318 million shares, up 123% from last year. In the first ten days of April, the American had an 82% turnover, meaning that 82% of the 1,045 issues for sale were traded, many of them with 10-to 15-point jumps in value in a single day.

Searching for comparison, Wall Street oldtimers recalled October 1929.


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