Lanzarini, Joelcy José SáQueiroz, Fernanda Cristina Barbosa PereiraQueiroz, Jamerson ViegasVasconcelos, Natália Veloso CaldasHékis, Hélio Roberto2020-10-072020-10-072010LANZARINI, J. J. S.; QUEIROZ, F. C. B. P. ; QUEIROZ, J. V. ; VASCONCELOS, N. V. C. ; HÉKIS, H. R. . O Processo de Desconcentração e Pulverização dos Investimentos e a Popularização do Mercado de Ações Brasileiro Pós 2001. Revista Catarinense da Ciência Contábil, v. 9, p. 45-61, 2010. Disponível em: http://revista.crcsc.org.br/index.php/CRCSC/article/view/1096. Acesso em: 27 set. 2020. http://dx.doi.org/10.16930/2237-7662/rccc.v9n26p45-612237-7662https://repositorio.ufrn.br/handle/123456789/30295BOVESPA has created several tools and educational programs aiming at increasing the number of investors in the equities market. Such programs have facilitated its dissemination and given greater agility to the capital market. An example of these programs is the investment club which is understood as a voluntarily investor association organized in a consortium that performs applications in capital markets, directly managing these portfolios with the assistance and advice from specialized institutions (banks, brokers, etc.). This paper also aims at presenting the changes in the devolution of the market and investment spraying occurred at BM&FBOVESPA today, starting in 2001, focusing on popularizing the stock market in Brazil. In order to fulfill the objectives, a literature research and data collection from agencies in the Central Bank of Brazil and BOVESPA has been carried out. The study has showed that recent changes in the stock market led to the inclusion of millions of minority investors, which until then were not aware of the capital market or regarded it as elitist and focused. These changes have brought to these investors the opportunity to obtain higher returns than the investments offered by the formal market, albeit with a higher degree of risk. Currently, the Brazilian capital market is much more decentralized, fragmented and popular than it has ever been and this is noticed by the millions of Brazilians who were offered and included in this market. The number of investors has increased considerably, as well as the number of after-work clubbers and investment clubsAttribution-NonCommercial-ShareAlike 3.0 Brazilhttp://creativecommons.org/licenses/by-nc-sa/3.0/br/Bolsa de ValoresClube de InvestimentosPopularizaçãoarticle10.16930/2237-7662/rccc.v9n26p45-61