Public.com Releases Survey of 3,000+ U.S. Adults, Showing Massive Shift in Approach to Stock Market
Public.com, the social investing app backed by Will Smith's Dreamers VC, NFL star J.J. Watt, bestselling author and entrepreneur Sophia Amoruso, and the original investors in Venmo, has released the results of a survey fielded in partnership with the personal finance media company, Finimize. The report compiles data from more than 3,200 U.S. adults to uncover new trends in how people approach investing.
The report finds that money is no longer a taboo topic for many Americans, who are tapping into social networks to build their brain trusts. Of those respondents who invest, 75% said they talk to other people about their investments, with 63% of investors turning to friends or online communities as their primary source for such conversations. The youngest cohort of respondents, 18- to 29-year-olds, were significantly more likely to discuss investing with their friends and socialize financial strategies prior to making their investments.
Additional insights from the study include:
"Today's investors are turning to their peers and communities to share ideas and grow their knowledge," said Leif Abraham, co-CEO of Public.com. "For young investors in particular, money isn't a taboo subject, and-in fact-the common behavior is to build literacy through open conversations with others."
Read the full report from Public.com and Finimize here.
Public.com is a social investing app that makes it possible to own the companies you believe in, with any amount of money?-?commission-free. Through an unmistakably simple experience, Public members can buy slices of stocks and ETFs, follow interest-based themes, and learn from a transparent community of subject-matter experts and friends along the way.
Finimize is on a mission to empower everyone to become their own financial advisor by demystifying financial news and providing the information and tools you need to invest with confidence. Finimize's first product was a daily newsletter that has attracted hundreds of thousands of readers, and the company has since expanded its platform to include a dedicated app, events, and more.
Finimize was created by people who previously set up $100 million businesses, were selected by Forbes to the "30 under 30" list, worked at Barclays, Goldman Sachs, Facebook, Google (News - Alert) and many others. To learn more, visit Finimize.com.
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