YouTube ustads and Insta gurus: Novice stock traders turn to social media for guidance.

YouTube ustads and Insta gurus: Novice stock traders turn to social media for guidance.


Children of a stockbroker family react as they watch a terminal during a special “muhurat” trading session for Diwali at BSE in Mumbai on November 12, 2023.

Synopsis

New-generation traders seek quick and easy money, often turning to options trading or cryptocurrencies. But the danger is that most of them count social media — where day traders become investment gurus and fortunes are made in 15-second reels — as their mentor.

Instagram and YouTube have all the answers. Talk of Amit Sahai, a 20-year-old BTech student from Bulandshahr district of Uttar Pradesh, or Ratulpreet Singh, a young corporate employee sipping freshly brewed coffee at Starbucks in CyberHub, Gurugram. They share a dream — minting money from the stock market. And their mentor? Social media. The stock market frenzy has tiptoed into the lives of millions of Indians like an uninvited-yet-enticing

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Author: Shirley