Nvidia-Led AI-Stock Rally Was Got Right By TikTok Finfluencers — Report Shows 64% Accuracy In Predictions But Question Marks Around Reliability Remain Intact

The article discusses the accuracy of stock predictions made by TikTok finfluencers, specifically in the AI stock market. A report by BestBrokers found that over 64% of the 87 stock forecasts presented in the 20 most-viewed stock-picking videos on TikTok during 2023 were accurate. This included notable surges in AI stocks such as Nvidia and Qualcomm. The analysis highlighted that many influencers recommended established blue-chip stocks, aligning with conventional advice from financial experts for lower-risk investment options. Despite these findings, experts expressed doubts about the reliability of these finfluencers, citing the lack of regulation and potential conflicts of interest. The study also noted that the overall performance of the U.S. stock market during the evaluation period may have skewed the findings. The article emphasizes the growing trend of seeking investment advice through social media, which has raised concerns about the trustworthiness of the guidance provided.

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