According to new data, 41% of all Gen Z investors educated themselves on the stock market and cryptocurrency through social media – predominantly TikTok and Instagram.
It appears the meme-stock mania is no short lived thing, and Gen Z intend to mix it with Wall Street suits for the foreseeable future.
In just the last six months we’ve witnessed (not for the first time) the immense market power Gen Z possesses.
Our satirical hijacking of the stock market, with the overnight climb of struggling game outlet GameStop, and the following crypto-market surge of Dogecoin aren’t merely signs that we enjoy trolling so-called traditional institutions – though that point is valid.
It also points to a genuine interest from young people in financial investment and the stock market that never previously existed. Certainly not on this scale, anyway.
While the events we’ve just touched on – rooted in amusing communities on Reddit and Twitter – undoubtedly inspired this trend, the self-proclaimed ‘digital natives’ are now curious to see how the financial market can benefit them long-term.
On that front, social media is proving a very useful avenue.
In-fact, according to new data published by financial research company Fidelity, as much as 41% of Gen Z investors learnt their trade through platforms like TikTok and Instagram. This is significantly more than Millennials (38%) and Gen X (25%), who tend to use more conventional methods to monitor the market like RSS web feeds.