Particularly worrisome are “herding events,” including those fomented in Reddit’s WallStreetBets community that encouraged hoards of people to invest in certain stocks, like GameStop and AMC. And regular people who invest in individual stocks in the short term are likely to lose money, no matter what you hear on TikTok. Many professionals spend their entire careers trying to do so, with varying levels of success. The thing is, it’s impossible to predict the market. There are potentially less risky - and equally user-friendly - app options out there. According to a number of financial advisers, the app appears to be democratizing certain types of risky investing, like day trading. The recent astronomical rise of meme stocks brought many people to the stock market for the first time, typically through Robinhood, the commission-free stock trading app that has promised to democratize access to the stock market.
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