36% of Moomoo users that participated in the survey made money in 2023, outlook generally positive for the rest of the year

Rhea-AI Summary

moomoo survey shows increased trading and profitability among users in 2023 compared to 2022. 36% of users made money in 2023, up from 15% in 2022. Concerns about Fed rate hikes, recession, financial sector upheaval, and inflation persist. Users split on safety of banks and ESG investing. 39% of users bullish compared to 21% at the beginning of the year.

Positive

• Increased trading and profitability among moomoo users in 2023
• 36% of users made money in 2023, up from 15% in 2022
• 39% of users bullish compared to 21% at the beginning of the year

Negative

• Concerns about Fed rate hikes, recession, financial sector upheaval, and inflation persist
• Users split on safety of banks and ESG investing

PALO ALTO, Calif., Aug. 28, 2023 /PRNewswire/ -- Online trading platform moomoo, an intuitive investment and trading platform providing investors with pro-grade, easy-to-use tools, data, and insights, released results of its second quarter investor survey for U.S. moomoo users.

In the first half of 2023, moomoo users who participated in the survey are trading more, and a larger number are profitable in 2023 compared to 2022, but their confidence levels have not improved. The survey also shows that amid the recent U.S. stock market rally, 36% of surveyed users have made money in 2023 as compared to only 15% in 2022 year-over-year when the S&P 500 lost 19.4% *- its worst decline since 2008. However, in the first half of 2023, Fed rate hikes, recession fears, upheaval in the financial sector, and inflation remain as the top concerns among the moomoo investors.

Users are also split on their thoughts about the safety of banks and on ESG investing. According to the survey, under 25-year-olds are more likely (64%) to consider environmental, social, and governance (ESG) factors when making investment decisions than the other surveyed moomoo users.

Although there is some investor confusion as to where the market goes from here and whether there will be a recession, 39% of users in the survey are bullish compared to only 21% at the beginning of the year. Lower than expected inflation and better than expected earnings for some companies and economic growth contributed significantly to the change in investor sentiment.

"We are so glad to learn that the stock market rally has boosted users' confidence overall. Many are cautiously optimistic about markets for the rest of the year, but inflation and recession continue to worry them, and we will watch closely for the rest of this year," said Justin Zacks, Vice President of Strategy, Moomoo Technologies Inc.

For more details about the survey results, please click here.

About the Survey: The Q2 Moomoo Users survey was conducted on July 17-21, 2023. The survey included 140 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. 

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 Level 2 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, and 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.

*The S&P 500 is an unmanaged index of 500 widely held stocks. An investment cannot be made in an index. The performance mentioned does not include fees and charges, which would reduce an investor's returns. Investing involves risks and past performance does not guarantee future results. 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.

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SOURCE moomoo