<![CDATA[ABSTRAC This study aims to identify the influence of social media on the investment behavior of retail investors in Indonesia. The rapid growth of digital platforms such as Instagram, YouTube, TikTok, X (Twitter), Telegram, and WhatsApp has positioned social media as an easily accessible and highly influential source of financial information. The findings indicate that digital exposure shapes risk perception, generates market sentiment, and triggers behavioral biases such as herding, overconfidence, and Fear of Missing Out (FOMO). Financial influencers and online investment communities also play a significant role in shaping investor preferences and decision-making. Overall, social media functions as a key factor affecting investment behavior in the digital era, emphasizing the need for improved financial literacy and stronger information regulation to support more objective and well-informed investment decisions. Keywords : Social media; Retail investors; Investment behavior; Herding; Overconfidence; FOMO; Financial influencers. ABSTRAK Penelitian ini bertujuan untuk mengidentifikasi pengaruh media sosial terhadap perilaku investasi investor ritel di Indonesia. Perkembangan platform digital seperti Instagram, YouTube, TikTok, X (Twitter), Telegram, dan WhatsApp telah menjadikan media sosial sebagai sumber informasi keuangan yang mudah diakses dan sangat berpengaruh dalam proses pengambilan keputusan investasi. Hasil penelitian menunjukkan bahwa paparan informasi digital mampu membentuk persepsi risiko, memunculkan sentimen pasar, serta mendorong munculnya perilaku irasional seperti herding, overconfidence, dan Fear of Missing Out (FOMO). Selain itu, figur finfluencer dan komunitas investasi daring berperan besar dalam membentuk preferensi dan keputusan investor ritel. Secara keseluruhan, media sosial berfungsi sebagai faktor penting yang memengaruhi perilaku investasi di era digital, sehingga diperlukan peningkatan literasi keuangan serta regulasi informasi untuk mendukung keputusan investasi yang lebih objektif dan terinformasi. Kata Kunci : Media sosial; Investor ritel; Perilaku investasi; Herding; Overconfidence; FOMO; Finfluencer.]]>
