Teenagers have mixed feelings about the stock market after GameStop‘s trading frenzy, according to a survey from nonprofit youth organization Junior Achievement USA and tax, accounting and consulting firm RSM examining their beliefs about investing.
Following GameStop’s rises and falls, 39% of teens see the stock market as an opportunity to “make money quickly,” while 20% believe it’s “too risky.” However, 40% still think stocks are a “good long-term investment,” the survey revealed.
While the GameStop saga captured teens’ attention, the events may have turned away some future investors, responses show. Only half of teens believe the stock market is “a good thing” for everyday Americans, responses show.
Moreover, 37% of teens wouldn’t invest if given money to participate in the stock market, according to the survey.
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“A percentage of teens have been basically sidelined because of this,” said Ed Grocholski, senior vice president of brand for Junior Achievement USA.
“It’s understandable why they would be hesitant to put money into the stock market,” said certified financial planner Leona Edwards, wealth advisor at Mariner Wealth Advisors in Nashville. “But it could put a serious dent in how much they are able to save in the future.”
Their reluctance to…