The rise of ‘finfluencers’ and huge surge in financial content on platforms like TikTok, Instagram and Twitter over the past 18 months has hooked a new generation on finance and investing.
Young investors are spending their spare cash on cryptocurrencies and stocks – with a large number of them following the advice they got from scrolling through social media, lured in by promises to get rich quick and beat the system.
Videos tagged #finance, #investing or #stocktok on TikTok have billions of views – a total of 7.5 billion at time of writing. Clips hyping stocks that are “going to the moon”, promising consumers they can easily turn $10 into $10,000 or kickstart a “doge revolution” dominate the financial social media scene and drown out educational content.
“The FOMO culture that dominates social platforms like TikTok, Reddit and Instagram has become a breeding ground for the marketing of high-risk investments shunned by the mainstream investment industry – often for good reason.” Myron Jobson, personal finance campaigner at Interactive Investor, told Insider.
Not all financial social media content can however be labeled the same. With the same hashtags that promote questionable investment and financial advice, there are videos with sound advice explaining Roth IRAs, how to increase your credit score or the benefits of long-term investing.
Tori Dunlap, a money expert who started her first business at age nine and accumulated $100,000 worth of savings by age 25, is one of the ‘finfluencers’ who shares such content as part of her brand Her First $100K on TikTok.
She said even before TikTok, bad financial advice was everywhere – it was just delivered through a different medium. Her main issue with the app is the 60-second time limit on videos. This feature was recently removed, but longer videos are still rare.
“I have a lot of parameters because I only have a minute and so I am using TikTok hopefully for folks as a jumping off point of like ‘I’m giving you this bit of education, now go read about it,'” she said in a recent interview with Insider.
Dunlap believes problems arise when consumers stop questioning the content they are taking in – after receiving good advice once, it’s easy to keep trusting what you see online, she said.
“You have to go ‘does this seem too good to be true?’ and if it seems too good to be true, it probably is. Or, just google the person.” she said.
Jobson agrees – he recognizes some content is helpful, but warns consumers to approach online investment advice with caution and to check the credibility of those who are giving it.
“There are some good materials out there to help people on their investment journey, but, more generally, we have seen concerning social media posts.” he said. “The advent of broader online ‘influencers’ has seen rise of so-called ‘financial influencers’ – many of whom haven’t got a clue on what they are talking about to put it bluntly.”
The horde of retail traders who have flooded the stock market in the past year are here to stay – even when the market turns sour, experts told Insider.
Since January 2020, retail investors bought $400 billion in stocks, doubling their total equity purchases from years prior, according to Vanda Research. Stock buying had been on the upswing for years before that though as more everyday investors had better access to market data and fee-free trading, thanks to brokerage apps like Robinhood, among others.
Dave Lauer, a stock market structure expert who has been interacting with retail investors, said the COVID-19 pandemic simply accelerated the number of day traders joining the market. But now that they’re here, “they’re here to stay,” he said.
For the first time, he’s seeing hundreds of thousands of people wanting to learn about how markets work and improve them.
“They see it as more than just a trade or an investment,” he said. “They see it as a movement.”
Matt Kohrs, a 26-year-old day trader with more than 300,000 followers on his YouTube trading channel, said the community of retail investors came together because they’re “tired of the tilted game” of Wall Street.
“The driving factor is a huge social-cultural movement,” he said. “It just happens to be playing out on a stock chart.”
Retail traders have joined the stock market in droves before.
Kristina Hooper, chief global market strategist at Invesco, said the dot-com bubble in the 90s had an “extraordinary level” of retail participation.
During that time, “it was not Reddit and Wall Street Bets and forums; it was taxi drivers in New York City talking about their favorite dot-com picks,” said Darren Schuringa, the founder of ASYMmetric ETFs, a firm designed to empower retail investors.
The difference now, according to Tuttle Capital Management Chief Executive Officer Matt Tuttle, “is the access now to all sorts of information, it’s the ability to trade for free and to trade quickly, and it’s the fact that they’re connected.”
That connection, Tuttle said, has given them the buying power of institutional investors.
For example, in January, hordes of day traders mobilizing on Reddit drove shares of GameStop to sky-high prices and caused short-sellers to lose billions. The event started the trend of “meme stocks,” and since then, the traders have driven share prices of multiple other companies, like AMC Entertainment and BlackBerry, up as well.
“They’ve got some power,” Tuttle said. “What history tells you is people who have power don’t give it up, at least not willingly.”
Even a market correction isn’t likely to faze retail traders, though they’ll likely face losses and some will exit, the experts said.
Hooper said a market correction could be on the horizon, though it will be short lived and won’t dent retail appetite.
“If you only have a downturn that lasts a few days and then stocks start going back up, will it shake out a lot of retail investors? Probably not,” she said.
However, a correction could hit meme stocks “quite hard,” she said, “because if there is one area where the fundamentals aren’t backing it, it’s meme stocks.”
Lauer, on the other hand, said meme stocks might avoid a correction because they appear to trade “relatively independent of what the market is doing.”
Kohrs said because retail traders make money off volatility, they could have even “bigger gains” in a bear market if executed properly.
“If you have proper risk management,” Schuringa said, “you can make money on both sides of the trade.”
Gen Z investors are all about making quick gains. They trade more frequently, they take on more risk and are picking up other traditionally ‘bad’ investment habits in the process, a Barclays survey found this week.
“Over a fifth (21 per cent) of Gen Z investors say they are investing to take advantage of the market and 16% plan to ‘play the markets’ to get rich quick,” the survey found. Most Gen Z investors additionally planned to dissolve investments within five years, according to Barclays.
Over the past year especially, Gen Z investors have also become more prone to taking risks when investing – almost a third of survey respondents admitted to this.
“The last year has also seen younger investors pick up investing habits that are traditionally viewed as unfavourable,” Barclays noted. As well as an increased risk appetite and investing more speculatively, the survey found that Gen Z investors traded more frequently and monitored their portfolios more often and closely.
Gen Z, or “zoomers”, are generally understood to be those individuals born roughly between 1997 to 2012, to so-called Gen X parents.
Older generations were found to be more focused on long-term goals, like purchasing real estate, when investing and had not become significantly more susceptible to risk over the past year.
Throughout the COVID-19 pandemic and alongside the corresponding rise in retail trading, a new type of social media influencer has emerged – and it’s one that appeals to Gen Zers. “Finfluencers”, or financial influencers, are especially popular on TikTok, where over 45% of all US-based users are of Gen Z age, according to statista.com.
The hashtags ‘#FinTok’, ‘#StockTok’, ‘#finance’ and ‘#investing’, which are commonly used by influencers who share finance- and investment-based content, have almost 7.5 billion views between them. The type of videos posted under these tags however varies greatly.
On the other side, many accounts promote specific stock investments or strategies – often leading with a promise of quick and high returns if users follow the approach. Videos with titles like “Stocks that will make me rich by 2022”, “Three penny-stocks ready to take off this week” or “How to retire at 22 years old” seem to dominate financial hashtags when scrolling through TikTok.
Crucially, finfluencers rarely are qualified financial professionals. Instead, they are often just dipping their toes into the investment waters as well. Many clarify this on their profiles, but this does not seem to stop audiences from following their advice and strategies.
A recent Motley Fool survey showed that social media buzz is the fourth most important factor in deciding whether to invest in a certain stock or not among Gen Z investors – highlighting just how influential finfluencers can be and how significant a role they play in young investing.
80% of Gen-Z investors and 60% of Millennials surveyed said they took on debt to invest. The survey gathered responses from about 2,000 US consumers from March 30 to April 6. Of those surveyed, about half were investors.
Young investors were most likely to take out a personal loan – oftentimes borrowing $5,000 or more – to invest and turned to family and friends for funds second, the data showed.
Older generations were much less likely to take on debt, with only 28% of Gen Xers and 9% of Baby Boomers borrowing in order to invest, the survey showed. Of those who borrowed money, more than half said they’d do it again.
Ismat Mangla, MagnifyMoney senior director of content, said borrowing puts investors into “risky territory,” and they need to determine if they can afford to take that risk.
“You want to be confident that your investment gains will exceed the costs of your loan. If they don’t, you should be confident that you could take that financial hit,” she said.
Millennials and Gen Zs have joined the market in droves since the COVID-19 pandemic began, and many have used social media sites like TikTok, which can be sometimes be a source of questionable advice, to educate themselves on investing. Data from Vanda Research shows retail traders purchased an additional $400 billion in stocks since January 2020, doubling their total purchases from the year prior.
Many of the young investors have poured into the new phenomenon of meme stocks – a trend that started earlier this year when retail traders coordinating on social media caused shares of GameStop to skyrocket. Since then, companies, including AMC Entertainment and BlackBerry among others, have seen sky-high prices largely thanks to the retail trade.
Retail traders responsible for driving record rallies in meme stocks like GameStop and AMC Entertainment are on track to pour a net $400 billion into equities this year, Goldman Sachs analysts said.
In the Friday note, the analysts, led by David Kostin, raised their estimate for full-year household net equity buying forecast to $400 billion from $350 billion in light of “high cash balances and continued retail participation.”
Last year, households poured $367 billion into equities, while in 2018 and 2019, they were net negative on the asset class, the Goldman Sachs data showed.
“The retail bid is back,” the analysts wrote, noting that in the first quarter alone, households were the largest source of equity purchases, netting $172 billion.
The “renewed strength in retail activity” has pushed Goldman’s basket of “retail favorites” to top the S&P 500’s performance by 3 percentage points this month. Meanwhile, stocks with active retail trading activity have also outperformed the broad market.
Retail traders came into the spotlight earlier this year when they caused a massive rally in shares of video-game retailer GameStop. The rally spread to other stocks, too, including BlackBerry and AMC Entertainment. Since then, the term “meme stocks” has entered Wall Street’s vocabulary, as retail traders, mobilized on social media sites like Reddit and Twitter, continue to rally behind various companies.
In May, retail traders renewed their interest in the new class of stocks as they drove up shares of movie-theater chain AMC Entertainment. Other meme-stock classics also rallied, as retail traders added new stocks to the basket as well.
Retail traders will likely continue to favor stock markets, thanks to “anemic” money market and credit yields, Goldman Sachs said. Plus, a continued increase in inflation would make equities more favorable than bonds or cash.
Currently, households allocate 44% of their assets to equities, the analysts said. That nearly matches the 46% all-time high allocation from 2000, just before the dot-com bubble burst.
Gen Z was “awakened” to investing amid the meme-stock mania this year, and now they’re turning to social media for advice.
A new report from Fidelity showed more than half of Gen Z-aged people surveyed made a trade in the first three months of 2021 when the meme-stock craze took hold, with GameStop leading the way. Now, the generation of young adults aged 18-24 is wanting to educate themselves, and they’re turning to social media sites like TikTok and Instagram for help.
About 41% of Gen-Z investors use social media to educate themselves on investing, the survey showed. That’s more than their older counterparts, with 38% of Millennials and 25% of Generation X using the platforms for advice.
Kelly Lannan, Fidelity’s vice president of young investors, said social media is the most likely place Gen-Z investors turn to first when seeking advice. After that, they most likely seek advice from people close to them before going to financial services platforms.
“Good or bad people are still turning to social media,” Lannan told Insider in an interview.
Whether it’s TikTok, YouTube, or Instagram, “We want to be there, so we can make sure that we are doing our part in ensuring that Gen Z is getting the right information, and they’re not just listening to someone who wants to be famous on these platforms,” she said.
Nearly half of Gen Zs surveyed said they’re feeling more educated to motivate themselves on trading and investing. “That’s a really good thing if people are starting to ask questions and engage more with their finances,” Lannan said.
For young investors, stocks are the most popular, with growth and dividend stocks being the most popular, and meme stocks closer to the bottom of the pool, according to a recent survey from the Motley Fool.
Even so, many Gen Zs started learning more about the stock market when an army of retail traders mobilized on Reddit’s Wall Street Bets poured into GameStop along with other so-called meme stocks to drive a short squeeze. About 58% of the young group said it was “more excited” to learn about the stock market following the meme-stock market volatility, the survey showed.
The investing side of TikTok, better known as “StockTok”, is ballooning, with the TikTok hashtag “#investing” garnering over 2.8 billion views. Many videos with tagged with #investing are centered around investing tips, and novice traders on the app have said they often heed the advice.
Thirty-six-year-old Douglas Boneparth, who provides investing advice to Millennials through his firm Bone Fide Wealth, said he loves the greater attention given to the world of investing through social media. But with the democratization of the stock market comes a lot of misinformation and “cringe.”
“It can get loud and noisy, and if you follow the wrong thing you can make some mistakes you really regret,” he said.
Insider asked three market experts for their take on nine popular TikTok investing videos with questionable advice.
Boneparth, along with Sam Stovall, chief investment strategist at CFRA, spoke with Insider for the story. Five of the TikTokers did not respond to Insider’s request for comment, and two couldn’t be reached through social media.
Kris Krohn, @kriskrohn, advised his 832,000 followers to avoid the “401K scam” in an August 2020 video. Krohn, known for his real estate-investing advice, said “max out your 401K could be the dumbest advice that I’ve ever heard for anyone that wants to take control of their financial future.”
“I admire his passion and love for real estate, but this is just factually incorrect,” Boneparth said. “A 401k is not a scam, it offers tax advantages.”
Sam Stoval said the advice is good “only if you like to throw away money, and if you are a believer in illogical conclusions.”
“Maxing your company’s 401K match will get you free money, since the company will give you – free of charge – all or some of your contributions,” Stovall said.
Plus he said stocks, which 401Ks can invest in, have delivered an 11% compound annual total return since 1946, not the 1% Krohn claimed in the video. The retirement accounts can ensure “the building of a substantial retirement nest egg,” he said.
The @teen.executive account, which has 187,500 followers, said people can make a million dollars or more if they use soap and shampoo samples from hotels, saving about $45 per month, and investing those savings into the S&P 500.
Stovall said that practically saving money whenever possible and investing those savings “is indeed useful advice toward becoming a millionaire by the time you retire.”
But, “who’s spending $45 a month on soap?” Boneparth said, “and you still have to pay for the hotel room.”
Boneparth, who wondered if the video was made as a joke, said penny pinching on the small things isn’t the path to financial independence.
“Soap alone isn’t going to get you a million dollars here.”
Amid the resurgence in meme-stock mania around AMC Entertainment, the @atomcash account, which has 1,400 followers, said, “Mathematically speaking, it is statistically possible that AMC can reach anywhere from 100k a share to 500 or even a million dollars a share.”
“There is a huge difference between being ‘statistically possible’ and ‘realistic,'” Stovall said.
At even just $1,000 per share, the company, which is currently trading at all-time highs around $45, would be a $500 billion business.
“It’s just absolutely ludicrous to think that AMC, a company that’s bleeding cash and trying to shore up its balance sheet and survive would be worth something slightly less than Tesla,” Boneparth said.
The creator behind @ceowatchlist publishes regular TikToks encouraging his 822,000 followers to track public investing records of CEO’s, senators, and other rich people and buy what they buy.
It’s a piece of advice that a lot of investors follow, seeing how many attend the Berkshire Hathaway annual meeting and read Warren Buffett’s letter to investors, Stovall said.
“A problem with buying what rich people own, however, is that these rich people probably don’t publish a newsletter telling when to buy and sell, along with publishing a track record,” Stovall added. “Therefore, blindly buying what rich people own means you may get in late and never know when to get out.”
Tik Tok Creator @Chris.stocks detailed to his followers what a support and resistance level is, and said when you see a stock nearing it’s support or resistance level, you can predict what’s going to happen, and make money.
“That is much of the basis behind technical analysts. ‘The trend is your friend until it ends,'” said Stovall.
Boneparth said the video is a foray into how to use technical analysis for trading, but warned that the skill takes time to practice.
“There’s no secret formula to getting rich,” said Boneparth. “I’m glad people are getting interested but that’s not long-term investing. You just can’t watch this video and go buying and selling.
In another TikTok video slamming retirement accounts, @realitycheck2020 says that investors shouldn’t use retirement funds, as those charge fees while your money loses value. His solution is for investors to put money in an S&P 500 index fund, and then look for opportunities in new IPOs, cryptocurrencies, and real estate.
Stovall clarified that most retirement accounts allow you to invest in the S&P 500 at a low cost.
Boneparth summed up this video has “really broad financial advice from someone spouting their opinions about asset classes.”
“It’s not backed with any information that would help someone. It’s all predicated on FOMO, of a market that’s been treating investors well for taking risk,” he said.
@tdorriz tells Tik Tok that investors can turn their $1,400 “stimmy” (stimulus) into $10,000 by buying SPACs that are about to acquire a target company.
“If these target companies are any good, these stocks will easily double or triple overnight,” @tdorriz said in a TikTok Boneparth said this investor is incorrectly linking correlation and causation, and urged investors to do their own due diligence.
“To just go buy any SPAC and not understand is a disservice,” said Boneparth. “This advice assumes that all SPACs make money. There are no investment guarantees!” Stovall added.
In a response to Insider on Twitter, the TikToker said the idea “flopped,” but noted his video was just his opinion not advice. “80% of the stocks I buy go up in my opinion,” he said in a message.
A TikTok from @rickrahim tells investors to take out a low interest loan, “plow it all into crypto,” and take out a tiny bit of profits each month to make monthly interest payments. Boneparth and Stovall both had strong reactions to this one.
“If he’s trolling, very funny. If he’s not, that’s an extremely dangerous, borderline stupid idea,” Boneparth said. ” Do not lever yourself to invest in any speculative assets. The risk is not worth the reward. Very dangerous, terrible, terrible financial advice.”
“Anyone who believes that a particular asset class ‘always goes up’ deserves to lose money,” Stovall said. “Also, why compound a possible mistake by taking out a loan (which carries its own cost) to purchase the investment you didn’t bother to research, or, worse yet, buying on margin? You’ll only end up losing more than you initially invested.”
The retail traders driving the meme stock frenzy are “here to stay,” but the current rally in shares of AMC Entertainment is not, said Karl Roessner, the former chief executive officer of E*Trade, in an interview with CNBC.
“This is not going to end well,” Roessner said of the AMC rally. “I think historically we we’ve seen this in the past, but I do believe this group has staying power.”
Shares of AMC jumped as much as 27% Monday following a record week in the stock that was largely driven by retail traders on Twitter and Reddit.
AMC, the world’s largest movie theater chain operator, became part of a new trend of so-called “meme stocks” earlier this year when retail investors on Reddit threads, most notably Wall Street Bets, began pouring into certain stocks like GameStop in order to squeeze short sellers.
Wall Street Bets since has ballooned into an army of retail traders numbering more than 10 million users.
In the interview with CNBC, Roessner, who is now the CEO of Lefteris Acquisition Corp., said with the availability of social media and trading platforms, the group has “powerful tools” at their fingertips, giving them “staying power.” Apps like Robinhood, WeBull, and Public, have grown in size amid interest from new investors.
He said his own sons, who both have E*Trade accounts, have picked up on investing.
“They keep hitting me as to, ‘Why don’t we own any dogecoin, or why don’t we get involved with one of these meme stocks?’ And I always bring it back to fundamentals,” he told CNBC. “Then they hear from their friends that they just made $10,000 on dogecoin, and they’re going to take the rest of the summer off. So how do you combat that?”
He said educating in financial literacy is key. For example, all of the money retail traders are investing in hyped up stocks should be risk capital, he said, because there’s a chance a person could “lose everything.”
“I always worry about the last retail trader who’s left holding the bag when the music stops,” he said, noting the last retail traders to invest during the internet bubble or before the market crash that prompted the Great Recession.
With regard to AMC specifically, Roessner said he applauds management raising capital to address balance sheet problems. But overall, “Absent some serious strategic undertakings by that company, it’s still just not worth what it’s trading for right now.”
If you’re a Millennial or Gen Z investor willing to share your investing experience, reach out to the reporter of this article at firstname.lastname@example.org.
With the rise of commission-free trading and app-based platforms like Robinhood, it is easier than ever to invest in the stock market, and the younger generations are piling in. Catering to the rise of the Gen Z and millennial traders, the short-form video app TikTok is home to a sizable library of investing advice. The hashtag #investing has received over 1 billion views, while #Stocktok has drawn in over 254 million views.
While the platform has received criticism for hosting risky or incorrect market advice, a handful of creators are attempting to stand out with educational, interesting and relatable content.
Here are five “StockTok” creators producing stock market and trading content on TikTok.
Robert Ross, @tik.stocks, 227,600 followers
Robert Ross is senior equity analyst for an investment research company. He runs @tik.stocks where he uploads videos analyzing his positions in stocks like Palantir, Alibaba, and Snowflake, while also giving his thoughts on market trends to his 227,600 followers.
As a TikTok creator with almost a decade of financial analysis experience, he said he wants to educate younger people on how to build long-term investing habits.
“I get messages from kids all the time who are 16, 17 years old asking how do I set up a custodial account? They want to be able to buy stocks…They want to buy super speculative stuff, penny stocks, they want to day trade,” Ross told Business Insider.
“What I try to do is bring some experience to all that enthusiasm these kids have, and kind of teach them good habits at a young age…because I’ve had some horror stories of people losing tens of thousands of dollars that send me their screenshots,” he added.
At a time when there is near limitless euphoria permeating the stock market as it notches record after record, much of it coming from retail investors, Ross believes educating younger generations could be key to protecting the market when things get frothy.
“I think if you’re able to kind of teach them good habits, it’s actually going to be a source of stability for markets in the long term.”
<blockquote class=”tiktok-embed” cite=”https://email@example.com/video/6904034363600538886″ data-video-id=”6904034363600538886″ style=”max-width: 605px;min-width: 325px;” > <section> <a target=”_blank” title=”@tik.stocks” href=”https://firstname.lastname@example.org”>@tik.stocks</a> <p>let’s see if I should sell my Palantir (PLTR) position <a title=”stocks” target=”_blank” href=”https://www.tiktok.com/tag/stocks”>#stocks</a> <a title=”stockmarket” target=”_blank” href=”https://www.tiktok.com/tag/stockmarket”>#stockmarket</a> <a title=”invest” target=”_blank” href=”https://www.tiktok.com/tag/invest”>#invest</a> <a title=”investing” target=”_blank” href=”https://www.tiktok.com/tag/investing”>#investing</a> <a title=”stonks” target=”_blank” href=”https://www.tiktok.com/tag/stonks”>#stonks</a> <a title=”ddtg” target=”_blank” href=”https://www.tiktok.com/tag/ddtg”>#DDTG</a> <a title=”pltr” target=”_blank” href=”https://www.tiktok.com/tag/pltr”>#PLTR</a> <a title=”fintok” target=”_blank” href=”https://www.tiktok.com/tag/fintok”>#fintok</a></p> <a target=”_blank” title=”♬ original sound – Robert Ross” href=”https://www.tiktok.com/music/original-sound-6904034373713103621″>♬ original sound – Robert Ross</a> </section> </blockquote> <script async src=”https://www.tiktok.com/embed.js”></script>
Kayla Kilbride, @Robinhoodkid, 60,000 followers
Kayla Kilbride set out to learn about investing at the start of the pandemic, but was frustrated that most stock market educators, including her own father, used market jargon that seemed impenetrable to a newcomer.
“I recognized that there were probably a lot of people like myself who just couldn’t follow the conversation,” she told Business Insider.
After learning online, she started making TikToks to explain financial concepts in ways that people without backgrounds in finance could understand and enjoy. In one TikTok, she stands up and mimics the movement of a charging bull to explain the origins of the term “bull market”.
As a relatively new investor herself, she says she only posts videos explaining concepts she truly understands, and she discloses to her 60,000 followers that she’s a beginner and wants to “learn stocks together” with them.
One of her most liked TikToks is a video where she explains options trading. In the video, Kilbride uses an analogy that compares buying a makeup palette from Ulta that you suspect will go up in price the next day.
“I have a lot of men who are like, I don’t even wear makeup…and I’m understanding this better than I ever have before,” she said.
Errol Coleman joined TikTok in February, seeing an opportunity to reach an audience of people who wanted to learn about the stock market online. Coleman explains technical analysis patterns, trading psychology, and individual stock picks to his 224,000 followers, with a healthy dose of memes about the life of a trader.
Coleman has been trading for over four years and admits he made a lot of mistakes in the beginning, and wants to help others avoid them.
“When I first learned, I just thought it was so confusing and it would have cut my learning curve in half if there was just someone that could just tell me like, hey, don’t do this and don’t do this,” Coleman told Business Insider.
<blockquote class=”tiktok-embed” cite=”https://www.tiktok.com/@errol_coleman/video/6908851743342316806″ data-video-id=”6908851743342316806″ style=”max-width: 605px;min-width: 325px;” > <section> <a target=”_blank” title=”@errol_coleman” href=”https://www.tiktok.com/@errol_coleman”>@errol_coleman</a> <p>Basically you want more than just a pattern to justify your entry</p> <a target=”_blank” title=”♬ original sound – Errol Coleman” href=”https://www.tiktok.com/music/original-sound-6908851852293556998″>♬ original sound – Errol Coleman</a> </section> </blockquote> <script async src=”https://www.tiktok.com/embed.js”></script>
“I always, always, always tell people like, do not blindly follow anything I say. What I want to do is I want to enable you and educate you on how to do this yourself,” he told Business Insider.
Hankwitz initially turned to Youtube to create stock market content, but realized he wasn’t able to compete with creators who were already established on that platform. He said TikTok is more accessible for new creators, and it’s algorithm enables videos from new creators to go viral.
“I’m not an editor. I don’t have the software and the know-how and all these other different things to make really, really good content that competes with [Youtube creators],” he said. ” But what I do have is a cell phone that I can download TikTok onto and point my camera towards my computer screen and just talk about what’s on my mind.”
<blockquote class=”tiktok-embed” cite=”https://www.tiktok.com/@austinhankwitz/video/6904440291990818054″ data-video-id=”6904440291990818054″ style=”max-width: 605px;min-width: 325px;” > <section> <a target=”_blank” title=”@austinhankwitz” href=”https://www.tiktok.com/@austinhankwitz”>@austinhankwitz</a> <p>If you plan to be a long-term investor into DoorDash, consider waiting for them to cool down – <a title=”investing” target=”_blank” href=”https://www.tiktok.com/tag/investing”>#investing</a> <a title=”stocks” target=”_blank” href=”https://www.tiktok.com/tag/stocks”>#stocks</a> <a title=”personalfinance” target=”_blank” href=”https://www.tiktok.com/tag/personalfinance”>#personalfinance</a> <a title=”entrepreneur” target=”_blank” href=”https://www.tiktok.com/tag/entrepreneur”>#entrepreneur</a></p> <a target=”_blank” title=”♬ original sound – Austin Hankwitz” href=”https://www.tiktok.com/music/original-sound-6904440201116945157″>♬ original sound – Austin Hankwitz</a> </section> </blockquote> <script async src=”https://www.tiktok.com/embed.js”></script>
Collin Miciunas is a senior financial analyst who runs @mainstreetwolf. He creates educational videos that range from explanations of basic concepts like what a dividend is to describing advanced options strategies.
“I always put a disclaimer in the comments saying options are risky,” Miciunas told Business Insider. “Basically in order to even touch options, you should have a solid financial grounding, meaning the money that you’re depositing into any trading account you should consider basically lost”
He tells his 248,000 followers to always do their own research before investing.
“I’m not really giving advice. It’s more of like, this is what I’m doing,” he said.
<blockquote class=”tiktok-embed” cite=”https://www.tiktok.com/@mainstreetwolf/video/6902588985231674630″ data-video-id=”6902588985231674630″ style=”max-width: 605px;min-width: 325px;” > <section> <a target=”_blank” title=”@mainstreetwolf” href=”https://www.tiktok.com/@mainstreetwolf”>@mainstreetwolf</a> <p>The one investment to rule them all. Aka Tesla😂<a title=”investing” target=”_blank” href=”https://www.tiktok.com/tag/investing”>#investing</a> <a title=”stocks” target=”_blank” href=”https://www.tiktok.com/tag/stocks”>#stocks</a> <a title=”stockmarket” target=”_blank” href=”https://www.tiktok.com/tag/stockmarket”>#stockmarket</a> <a title=”invest” target=”_blank” href=”https://www.tiktok.com/tag/invest”>#invest</a> <a title=”stocktok” target=”_blank” href=”https://www.tiktok.com/tag/stocktok”>#stocktok</a></p> <a target=”_blank” title=”♬ Killing Me Softly With His Song – Fugees” href=”https://www.tiktok.com/music/Killing-Me-Softly-With-His-Song-6771859436953717509″>♬ Killing Me Softly With His Song – Fugees</a> </section> </blockquote> <script async src=”https://www.tiktok.com/embed.js”></script>