During the 1920s, when the stock market was booming, a wide range of people were investing in the stock market, including wealthy individuals, middle-class Americans, and even some working-class individuals who used their savings to invest. However, it's important to note that while many people were investing, the vast majority of Americans did not participate in the stock market at that time. Many people were excluded due to systemic racism and discrimination, including African Americans, who faced numerous barriers to investment in the stock market. Additionally, many people simply didn't have the disposable income to invest, especially during the Great Depression that followed the stock market crash of 1929.
