Advertiser Disclosure

TradeKing Survey: Social Media and Investing in 2013

May 11, 2013
Investing
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Where do you get data about the companies you invest in? That was the primary topic of TradeKing’s April 2013 Investor Survey.

The online brokerage firm found that most of its clients still prefer newspapers and corporate websites over Facebook and Twitter when it comes to researching and staying updated on investments. Twitter was only used by 7% of investors, and Facebook was used by 3%. However, the top choice for research was still Google, with 61% of investors using the search engine for investment knowledge.

In April, the SEC decided to allow companies to make announcements to investors through social media platforms. So what do investors think?

24% of respondents said that they considered the policy change to be a nuisance; instead of being able to simply check a corporation’s website, they would now have to search through multiple sites for information. On the other hand, 20% liked that the SEC is now on top of social media. 44% of respondents said that the ruling would not affect them.