Social media influences 'over half' of young investors

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Social media influences 'over half' of young investors

By Alexandra Leonards

17/11/2021

Ideas from social media influence 56 per cent of 18-34 year olds who invest, according to new research.

The study, commissioned by Hargreaves Lansdown, surveyed 2,000 people in September.

The research found that Reddit was the most popular platform for investment ideas for the younger investors that took part in the survey. TikTok was identified as the second most popular platform for investment ideas for Gen Z and Millennials.

Just 4 per cent of 55–64 year-olds get investment ideas from social media, preferring newspapers instead.

''The collision between social media and financial markets has been one of the most dramatic trends emerging from the pandemic and it shows little sign of easing,” said Susannah Streeter, senior investment and markets analyst. “It appears that swiping up through posts to get ideas about investing has become a favourite pastime among many younger investors.”

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