Recently, we have all heard quite a bit about how young people can make a greater impact on society than we had ever imagined. We have heard about environmental activists such as Greta Thunberg or the many movements spearheaded by young adults. One of the areas our younger generation has most recently had the biggest impact on is the stock market. In fact, some even refer to it as the young investor revolution.
Prior to the pandemic, very few people from our generation owned, or were involved at all, in the stock market. Fueled by the pandemic’s stock market crash and the newfound ability to trade stocks commission free through new phone applications, the young investor revolution was born.
WallStreetBets is the largest Reddit investing community with 10.5 million members. This community played a large role in introducing our generation to the market. The Reddit community took on the self-proclaimed name, the “apes.” The name is a playoff of the fact that Wall Street viewed these Reddit investors as “the dumb money” because they believed these young individuals were unaware of how to invest. Little did Wall Street know, that when banned together, this group of “apes” would begin to have a major impact on the market.
To better understand who these new investors were Public.com, a popular online investing app, did a recent survey and here are some of their findings.
76%…
“say investing will help them accomplish bigger dreams.
They aspire to build enough wealth to start their own businesses, gain financial independence and begin families.”
56%…
“say their parents did not own stocks.
Moreover, 60% of these investors said their parents were financially insecure.”
63%…
“say that learning about investing makes them feel more powerful.”
73%…
“have encouraged a friend or family member to start investing.”
Although the young investor revolution is young and will continue to evolve, these investors have proven that they are here to stay, and will continue to leave their mark on the stock market.