In addition, 46% of investors said they expected to increase their use of Reddit, a Brunswick Group survey found.
Highlights
- A Brunswick Group survey found 58% of institutional investors have used Reddit for investment decisions.
- And 46% of investors said they expect to increase their use of Reddit in the following year.
- The interest among institutional investors may be linked to the plunge in meme stocks that were once touted on Reddit, the report said.
- Reddit has more than 33 million finance conversation threads on the site, which has caught the attention of investors, the investment advisory firm surveyed 257 US and European institutional investors – professionals who trade for banks, hedge funds and pensions – and found that 58% have used the social media site to make an investment decision.
- The report also said 81% of those surveyed made a decision based on a digital or social media.
Read the original article
Peter Schiff predicts world will shift from fiat to digital currencies but not Bitcoin