A recent report shows nearly two out of three stock-related videos on TikTok provide inaccurate or false information. TikTok has a wide range of dedicated communities around finance and lately #StockTok, a branch of #FinTok, where creators share videos about the stock market and investing is under fire. Stock research platform WallStreetZen analyzed #StockTok videos and found 63% of them are misleading. And yet, many have garnered a considerable amount of attention, with the hashtag at large boasting 3.5B total views. The report also revealed that merely 0.8% of content creators providing stock advice possessed any qualifications or credentials related to finance. YPulse’s Fintech report shows five in 10 young consumers say they trust social media platforms for financial advice, but nothing will compare to a financial advisor when needing help with investment funds. (Fast Company)
