Social media investing can be fun, but it has its pitfalls.
If you’re trying to find an idea of who in these videos is worth trusting — I recommend closing the TikTok app and sticking your head out the window for some fresh air. Finance is labyrinthine. Entertaining snippets on TikTok and other social media are digestible. Occasionally, you scroll away knowing something you didn’t beforehand. But as confusing as investing can be, going off “advice” you saw on TikTok might not be the best idea.
Just as influencers and social media helped drive the market up, it’s possible they can also inadvertently shepherd it in the other direction. Sure, many influencers are urging us to HODL and see slumping prices as an opportunity. But it only takes a few scared folks in an echo chamber to spark panic selling. This is how memes end up in the back of people’s minds as they make real-life decisions.down provide good fodder for the content mill.
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