FTAC Athena Acquisition Corp
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Company profile

FTAC Athena Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company has not commenced any business operations. The Company has not generated any revenue.

Closing Price
$10.11
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
10.11
Day's Low
10.10
Volume
(Heavy Day)
Volume:
415

10-day average volume:
438
415

SoFi Report Reveals 85% of Investors Plan to Change How They Invest in 2023

9:30 am ET January 10, 2023 (BusinessWire) Print

Three out of four investors report regrets about how they invested in 2022, and 85% now plan to change how they invest in 2023 according to a new survey from SoFi (NASDAQ: SOFI), the digital personal finance company. The first-ever SoFi Investor Study surveyed 1,000 investors in the U.S. about how they managed their portfolios in 2022, their general sentiment about the market, and their predictions for 2023. In 2022, investors endured wild market volatility, rising interest rates and a crypto winter, and they're facing more potential headwinds in 2023.

Reflecting on Investing in 2022

While 2022 was a rough ride for many investors, most stayed the course, with 93% reporting they continued to invest despite the environment. While staying in the market, many regretted some of their choices over the last year, with the most common regrets for investors in 2022 turning out to be:

Not buying more cryptocurrency at lower prices (18%) Not buying more stock when the market started to decline (16%) Not selling stock before the market started to decline (15%)

One of the biggest challenges to the economy in 2022 was white hot inflation, but respondents were divided on how they felt about its impact on their investment strategies over the last year despite the toll it took on people's wallets. In fact, 39% of respondents said they want to invest more (despite inflation), 33% said inflation made them want to leave their investments alone, and only 28% said inflation made them want to invest less. The group of investors least spooked by inflation? Gen Z, with the new generation of investors making up the biggest group of investors reportedly wanting to invest more despite inflation.

Life & Investing in 2022

Recent economic conditions took their toll on investors in more ways than just financial, with many people stressing over investments. Investors coped with the stress of market fluctuations in a variety of ways. According to the findings, almost half engaged in other hobbies to take their minds off their investments (41%). Notably, a third of investors completely stopped checking their balances (31%), embracing "out of sight, out of mind" to help get through a tough year and stay the course on their investments.

However, the impact of the market ups and downs went beyond simple stressors. One-third (33%) of respondents reported that the market conditions caused them to cancel or delay plans or purchases because of money lost on investments in 2022.

Investors Planning for 2023

Considering all the ups and downs of 2022, it's no surprise the majority of investors reported wanting to make changes in 2023. The most common changes respondents reported they'd make are:

Increasing investments (21%) Conducting more research (19%) Working with a financial advisor (14%)

It's clear optimism continues to reign among investors. Even despite the crypto winter that kicked off in 2022, 78% of crypto investors were either confident or cautiously optimistic that the crypto market will rebound in the future.

Other key findings from the 2022 SoFi Investor Study:

Investors are flocking to non-stock investments amid volatility. In 2022, nearly all of respondents invested in non-stock related assets. While crypto was the most common, Certificate of deposits (CDs), private equity funds, real estate investment trusts (REITs) and gold or other commodities are most popular. Men continue to out-invest women. Of those who reported not investing in 2022, 56% were women, highlighting that there is still more opportunity for women to jump into the market. When it comes down to dollars invested, men are more likely than women to invest big bucks in their portfolio. Market volatility led some investors to make impulsive portfolio changes. Over one-third of respondents said they made impulsive investment decisions in 2022 due to the year's ups and downs. Gen Z, experiencing their first market downturn, was the most likely to act impulsively, with nearly one-third admitting to acting rashly this year in response to the market swings.

See the full SoFi Investor Study here.

Methodology

Research findings are based on a survey administered by SoFi on October 5, 2022. For this survey, 1,000 investors around the United States, 18 years or older, were asked how they managed their portfolios in 2022, how they felt about the market, and what their predictions were for 2023. The survey didn't include known SoFi members, or a SoFi member data set.

Disclosures:

Source: Based on the SoFi Investor Study of 1,000 investors on October 5, 2022.

SOFI-F

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005461/en/

SOURCE: SoFi Technologies

Melanie Garvey
mgarvey@sofi.org
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COMTEX_422423643/1006/2023-01-10T09:30:00

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