Retail investors in the United States are increasingly allocating capital to equities, with household equity allocation reaching 43%, one of the highest levels recorded and surpassing the peak seen during the 1990s Dot-Com Bubble. Penny stocks, often considered a proxy for retail investor activity, accounted for 47.4% of market volume on a recent Thursday, marking an all-time high and more than doubling the volume seen during the 2020-2021 meme stock frenzy, according to Goldman Sachs. This surge in retail participation is characterized by a strong appetite for risky turnaround stocks in hopes of substantial gains. Meanwhile, precious metals such as gold, silver, and platinum have outperformed US stocks and other asset classes in 2025. US gold ETFs have seen assets under management approach a historic $200 billion, doubling over the past two years due to rising gold prices and increased capital inflows. Despite the strong performance of precious metals, retail investors remain highly engaged in the stock market.