Moomoo Users More Profitable and Confident on the Market in 2023, Stay Bullish for 2024

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Feb 05, 2024, 08:00 ET

JERSEY CITY, N.J., Feb. 5, 2024 /PRNewswire/ -- The intuitive investment and trading platform moomoo has recently completed a 2023 fourth-quarter U.S. users survey. Users have reported that they are more profitable and confident on average than six months ago and are trading more than a year ago, according to responses. Looking forward to 2024, users are more bullish on average and more expect the economy to avert a recession than they did in the last two surveys.

Amid a 2023 rally in the U.S. stock market, 40% of surveyed users report that they have made money compared to only 15% in 2022, a year when the S&P 500 lost 19.4%--its worst decline since 2008. The majority of users believe in a 2024 bull market and have been adding money to their trading accounts in 2023.

With user bullishness rising, along with the markets, 78% of surveyed users who made money in 2023 traded more, but surprisingly 58% of users who lost money also traded more often. For the 2024 market outlook, 45% of surveyed users are bullish compared to 39% at midyear and only 21% at the beginning of the year.

"More users are buying into the 'soft landing' economic scenario in the US. This has led to a more positive outlook on markets on average and increased stock trading," said Justin Zacks, Vice President of Strategy at Moomoo Technologies Inc. "Following several major bank runs in the spring, many of our users regained confidence in the second half of 2023 about the safety of their money in traditional banks."

26% of moomoo surveyed users don't expect a recession anytime soon compared to 18% of users at midyear. Some investors believe the 2023 rally, which has been led by technology stocks, still has some steam. Over 80% of respondents expect the tech sector to outperform in 2024.

To learn more about the moomoo third-quarter user survey results, please download our whitepaper.

About the Survey: The Q4 Moomoo Users survey was conducted in December 2023. The survey included around 1000 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. 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. Investing involves risks regardless of the strategy selected.

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 in-depth 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, 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 or feel free to email: [email protected].

Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo is a financial information and trading app offered by Moomoo Techonologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.

SOURCE moomoo