The ‘Crack Cocaine’ Of Investing: A Growing Problem Among Men

Crack Cocaine
Jan 3, 2025 Reading time : 2 min

The Wall Street Journal features an article with the title “More Men Are Addicted to the ‘Crack Cocaine’ of the Stock Market.” The subheadline accompanying this article, ‘Gamblers Anonymous meetings are filling up with people hooked on trading and betting. Apple makes it as easy as ordering takeout.’

The allure of high-stakes stock trading and cryptocurrency captures an increasing number of men. This has led to packed Gamblers Anonymous (GA) meetings across the United States. The pandemic’s surge in trading activity coupled with user-friendly platforms such as Robinhood has further fueled this addition. 

Options trading is often referred to as the ‘crack cocaine of the stock market’ and it has caused some people to suffer huge losses. People have lost hundreds of thousands of dollars which further caused them to develop addictive tendencies. 

Crack cocaine of the stock market addiction among individuals

Plenty of them are grappling with emotional turmoil including mood swings and depression along with concealing their financial setbacks. Despite assurances of responsible investing practices, applications such as Webull and Robinhood have faced criticism for fostering impulsive trading habits. 

The rise of financial market gambling has become a pressing concern with treatment facilities like Maryhaven Addiction Center and Williamsville Wellness which have witnessed a notable increase in patients looking for assistance. 

Those who are affected frequently often deal with symptoms such as depression and anxiety when they try to cease trading. The physiological impact of trading addiction closely resembles traditional gambling pushing some individuals to their limits. For instance, a man recounted a devastating loss of $1 million in cryptocurrency which leaves him feeling despondent before he seeks help. 

There is an urgent need to boost financial literacy, especially among those who are most vulnerable. This transition from gaming to gambling on games and eventually to trading as if it were a gaming which is alarmingly seamless without any adequate education about the inherent risks that are involved.

Staff Writer
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Staff Writer
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