Pengaruh Social Media Influencer, Fear of Missing Out (FOMO), dan Literasi Keuangan terhadap Minat Investasi Saham IPO melalui Sistem e-IPO (Studi pada Generasi Z di Kota Medan)

The development of stock investment in Indonesia has experienced a significant increase, particularly among Generation Z, who actively uses social media and is vulnerable to the influence of social media influencer content and the Fear of Missing Out (FOMO) phenomenon that can drive interest in IPO stock investment. Meanwhile, financial literacy plays an important role in helping Generation Z understand investment information rationally. This quantitative study with an associative approach aims to analyze the influence of social media influencers, FOMO, and financial literacy on interest in IPO stock investment through the e-IPO system among Generation Z in Medan City. The sample consisted of 100 respondents aged 17–28 years, domiciled in Medan City, and familiar with IPO stock investment through e-IPO, with data collected through online and offline questionnaires. The results show that social media influencers, FOMO, and financial literacy have a positive and significant partial effect on interest in IPO stock investment, and simultaneously the three variables also have a significant effect. These findings indicate that social, psychological, and financial understanding factors play an important role in shaping interest in IPO stock investment among Generation Z in Medan City.