Investing Is The Top Way to Financial Security, Moomoo Users Reveal In The 3Q Survey
PALO ALTO, Calif., Dec. 4, 2023 /PRNewswire/ -- The intuitive investment and trading platform moomoo has recently completed a third-quarter U.S. users survey. Results show that 37.1% of surveyed moomoo users feel financial stability can be achieved with relatively moderate income levels and see investing as the top path to potential financial security.
Despite calls by many economists, a recession has yet to materialize. Employment remained strong in the third quarter while inflation came down from much higher levels reached earlier in the year. Moomoo surveyed its users at the end of the third quarter to learn how they felt about their finances, how financially resilient they were, and how they were working to meet their investing goals and achieve financial freedom. Their answers painted a mixed picture of what worries them and how they were preparing for the future.
"Foremost, our users are worried about inflation and the economy. A little more income would make them less worried, and investing is seen as the number one way to get there," said Justin Zacks, Vice President of Strategy at Moomoo Technologies Inc. "Most of our users have an emergency savings fund, with a little less than half able to pay for an unexpected expense with such funds."
Results also show that investment styles and goals have shifted recently compared with the COVID-19 pandemic era. The "you only live once (YOLO)" style of investing gained popularity during the pandemic, but that popularity has since waned as many of the so-called "meme" stocks came back down to earth, unable to support lofty valuations. 81.6% of surveyed moomoo users do not use the YOLO style of investing at all.
In terms of learning about how and what to invest, moomoo users are more likely to look online for financial information than to more traditional offline resources. News articles (34.3%) and the moomoo app (26.3%) account for more than half of the sources to which users turn for their financial information.
To learn more about the moomoo third-quarter user survey results, please download our whitepaper here.
About the Survey: The Q3 Moomoo Users survey was conducted in October, 2023. The survey included around 400 participants that are registered users of the moomoo app. The data shown in the survey represents the opinion of those surveyed, and may change based on market and other conditions. The survey results provided herein may not represent other customers' experience, and there is no guarantee of future performance or success and should also not be construed as investment advice. Experiences may differ than the ones represented here. Investing involves risks regardless of strategy selected.
About moomoo
Moomoo is an investment and trading platform that empowers global investors with pro-grade, easy-to-use tools, data, and insights. It provides users with the necessary information and technology to make more informed investment decisions. Investors have access to advanced charting tools, technical analytics, and in-depth data. Moomoo grows with its users, cultivating a community where investors share, learn, and grow together in one place. Moomoo provides free access to investment courses, educational materials, and interactive events that any investor, at any level, can gain from. Users can join forum discussions, trending topics, and seminars to better their investment knowledge and insights.
The moomoo app is offered by Moomoo Technologies Inc. ("MTI") a company that is based in Palo Alto, California. The app is used globally in countries including the U.S., Singapore, Australia, Japan, Malaysia and Canada. MTI is not a broker-dealer and does not provide investment advice or recommendations. In the U.S., securities products and services are offered by Moomoo Financial Inc. ("MFI"), an SEC-registered broker-dealer and member FINRA/SIPC. MTI and MFI are indirect, wholly-owned subsidiaries of Futu Holdings Limited (Nasdaq: FUTU). FUTU has won multiple awards internationally, such as Fortune's 100 Fastest Growing Companies in 2022. Moomoo is not just your investment platform. It is your investment journey.
For more information, please visit moomoo's official website at www.moomoo.com or feel free to email: pr@us.moomoo.com.
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