How social media and upward social comparison impact retail investors

1984 paper presciently anticipated the GameStop phenomenon. Trading in the video game chain’s stock demonstrates

In the study, participants were divided into two groups: one group was presented with information about top traders, while the other group served as a control. All participants were screened to include only those with a “higher level of financial knowledge.” The researchers then used a dynamic trading simulation that mimicked trading activity onThe results were striking.

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Source: News Formal (newsformal.com)

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