Marketopolis is the another chapter of that playbook.

Produced by Stakeholder Labs, Marketopolis takes the format deeper. Where After Earnings captures the post-quarter narrative — the numbers, the guidance, the forward look — Marketopolis zooms out. Executives open up about how they think about money, investing, and leadership, while also revealing how they communicate with the markets and how they view the growing influence of retail investors.

Fourteen episodes later, the show featured founders, CEOs, and C-suite leaders across fintech, consumer brands, energy infrastructure, real estate, media, bitcoin mining, aviation, and enterprise software.

And while no two conversations were alike, the themes that emerged tell a remarkably consistent story about where the relationship between public companies and their investors is heading.

🎙️ Celsius ($CELH) — John Fieldly, Chairman & CEO

John Fieldly walked us through one of the best turnaround stories in consumer packaged goods: taking Celsius from a micro-cap restructuring to a $2.5B revenue energy brand portfolio. With the Alani Nu acquisition expanding Celsius into a multi-brand platform alongside Rockstar, Fieldly broke down the portfolio logic — how each brand extends shelf space, pricing architecture, and retail execution without cannibalizing the others. He also made a compelling case for why the “better-for-you” movement in energy drinks is still in early innings and how Celsius is positioned to capture international growth and new consumption occasions.

Why it matters for Comms & IR: Celsius is a masterclass in narrative evolution. Fieldly didn’t just explain the numbers — he gave investors a framework for understanding why the business model works and where it goes from here. That kind of strategic storytelling is what builds conviction beyond a single quarter. Notably, Fieldly was also one of the very first guests on After Earnings when we launched the show with Morning Brew — a testament to how seriously Celsius takes direct-to-investor communication.

Listen to the episode →

🎙️ Nextdoor ($KIND) — Nirav Tolia, Co-Founder & CEO

Nirav Tolia came back to the CEO seat after Nextdoor’s stock drew down over 90% from its SPAC highs — and he did something most founders in that position don’t do: he addressed it directly. On Marketopolis, Tolia was candid about what went wrong, what’s changed in the post-COVID and AI landscape, and why he believes the company’s core asset — a neighborhood graph of 100M+ verified users tied to real-world locations — is still dramatically undervalued. He detailed how AI is now the operating layer across efficiency, product quality, and local advertising outcomes.

Why it matters for Comms & IR: Tolia addressed the single biggest misconception about Nextdoor head-on: that the opportunity is capped, when in reality, it was under-executed. That kind of radical transparency with investors — especially retail investors who lived through the drawdown — is exactly the type of communication that rebuilds trust.

Listen to the episode →

🎙️ Box ($BOX) — Aaron Levie, CEO & Co-Founder

Aaron Levie is one of enterprise software’s most recognizable CEOs, and his Marketopolis episode was part investing lesson, part AI strategy deep-dive. Levie opened up about his earliest investing mistake — losing his Bar Mitzvah fund on a cable stock — and connected those early lessons to how he thinks about capital allocation and long-term business building today. The core of the conversation was Box’s AI transformation: not a pivot, but a bold expansion of their mission to unlock the hidden value sitting inside enterprise data. Levie was also candid about the challenge of communicating AI’s value to both Wall Street and retail investors in a market flooded with AI narratives.

Why it matters for Comms & IR: When every company claims to be “AI-first,” Levie demonstrated what it looks like to actually articulate the differentiation. He framed AI not as a feature set but as an unlock for Box’s entire value proposition — the kind of strategic framing that helps investors separate signal from noise.

Listen to the episode →

🎙️ CleanSpark ($CLSK) — Matt Schultz, CEO & Chairman

Matt Schultz traces CleanSpark’s evolution from gasification technology to Bitcoin mining to what he now calls a “monetize megawatts” platform spanning Bitcoin and AI/HPC compute. Schultz explained how selling Bitcoin at the 2022 peak and reinvesting into infrastructure — while peers were leveraging up — created a structural advantage that’s now paying off as the company expands into long-term AI data center contracts. He also addressed common retail investor misconceptions around execution timelines and shareholder alignment, making the case that Bitcoin mining and AI compute aren’t competing strategies but complementary uses of the same energy infrastructure.

Why it matters for Comms & IR: CleanSpark sits at the intersection of three of the hottest retail investor narratives — Bitcoin, AI, and energy infrastructure. Schultz used the conversation to simplify a complex thesis and give investors a clear mental model, which is exactly what companies in emerging categories need to do to build a durable shareholder base.

Listen to the episode →

🎙️ Webull ($BULL) — Anthony Denier, CEO

Recorded live at Benzinga Fintech Day, Anthony Denier sat down to discuss how Webull is building the infrastructure for the next era of retail investing. Denier detailed the launch of Vega, Webull’s AI-powered platform for personalized trading insights, and explained the company’s expansion across 14 global markets. But what made the conversation stand out was Denier’s perspective on the evolving retail investor: not a meme-stock caricature, but an increasingly data-savvy and selective capital allocator. He also spoke directly about the importance of building infrastructure that connects public companies with their retail shareholders — a topic that couldn’t be more aligned with the mission behind Marketopolis.

Why it matters for Comms & IR: Webull is both a distribution platform and a bellwether for how retail investors consume information. Denier’s insight that retail is getting smarter, not louder should reshape how IR teams think about the content they create and where they distribute it.

Listen to the episode →

🎙️ Dave ($DAVE) — Jason Wilk, CEO & Kyle Beilman, CFO/COO

This was the only episode in Season 1 to feature a CEO and CFO side by side, and the dual perspective made it one of the most tactically useful conversations of the season. Wilk and Beilman broke down how Dave wins by leading with short-term credit, using real cash-flow data instead of FICO scores, and keeping distribution open so customers don’t have to switch banks. But the real gold was their public company playbook: crisp three-point narratives, conservative guidance designed to build trust over time, and an operating cadence that keeps IR and execution tightly in sync.

Why it matters for Comms & IR: Dave is serving 12 million consumers — many of whom are also investors in the company. Wilk and Beilman offered one of the clearest frameworks we’ve heard for how management teams should think about the feedback loop between product users and shareholders. For any company with a consumer-facing product and a retail shareholder base, this episode is a blueprint.

Listen to the episode →

The Full Season 1 Roster

Beyond the six spotlights above, Season 1 also featured:

George Arison, CEO — Grindr ($GRND) · Shawn David Nelson, CEO & Founder — Lovesac ($LOVE) · Paul Edmondson, CEO — The Arena Group ($AREN) · Matt Meeker, CEO & Co-Founder — BARK ($BARK) · Jason Vieth, CEO — Laird Superfood ($LSF) · Smriti Popenoe, Co-CEO & President — Dynex Capital ($DX) · Mike Logozzo, CEO — reAlpha · Sudhin Shahani, Co-Founder — Surf Air Mobility ($SRFM)

Browse all episodes →

Three Themes That Defined the Season

AI is reshaping every business — and every investor conversation. If there was a single through-line across all fourteen episodes, it was artificial intelligence. But not in the way most people discuss it on social media. Levie described rebuilding Box’s product around AI. Tolia returned to the Nextdoor CEO seat and immediately deployed AI as the operating layer. Denier at Webull talked about AI-powered investor insights through Vega. Schultz at CleanSpark framed energy infrastructure as the connective tissue between crypto and compute. Even Wilk and Beilman at Dave described how cash-flow AI underwriting is the moat that FICO-dependent competitors can’t replicate. The takeaway for IR and comms teams: AI isn’t a talking point to bolt onto your investor deck. It’s a strategic lens that investors — retail and institutional alike — are now evaluating every company through. If you aren’t articulating how AI affects your business model, your competitive moat, or your cost structure, someone else (or something else) will fill that narrative gap for you.

Founders and CEOs are telling personal stories — on purpose. One of the most striking patterns was how personal these executives were willing to get. Nelson traced Lovesac from a college basement to a billion-dollar public company. Meeker explained how an obsession with dogs became the foundation for BARK’s product strategy. Fieldly walked through Celsius’s transformation from turnaround story to multi-brand platform. Levie opened with his Bar Mitzvah investing disaster. These aren’t accidental anecdotes. In a market flooded with information, the executives who break through are the ones who give investors a reason to care beyond the numbers. Origin stories, leadership philosophy, the “why behind the what” — this is the kind of narrative texture that builds long-term shareholder conviction. It’s also the kind of content that performs exceptionally well in generative search environments, where AI systems increasingly summarize companies for investors before they ever visit an IR site.

Retail investors are no longer a side audience. Nearly every guest acknowledged a fundamental shift: retail investors are a permanent, influential force in capital markets. Popenoe at Dynex Capital spoke about how ethical stewardship builds trust with individual shareholders. Denier at Webull described an investor base that’s growing more sophisticated by the quarter. Wilk and Beilman at Dave are building for 12 million consumers who are also potential shareholders. This isn’t news to readers of this newsletter. But hearing it directly from the executives — across wildly different sectors — reinforces a point we’ve been making for years: companies that treat retail investors as a strategic constituency, not an afterthought, will have a structural advantage in how they’re discovered, understood, and valued.

From After Earnings to Marketopolis: Building the Playbook

When we launched After Earnings with Morning Brew in 2024, it represented a thesis put into practice: public company executives should be having conversations with the modern investor, not just the institutional ones. Morning Brew brought massive distribution and an audience of millions of business-minded consumers. The show quickly became a destination for companies looking to connect with a new generation of shareholders — featuring leaders from Salesforce, Airbnb, Pfizer, Affirm, and many more.

Marketopolis builds on that foundation, the show goes deeper on strategy, leadership, and the personal side of running a public company. After Earnings captures the post-quarter narrative. Marketopolis captures the long-term thesis. Together, they form a media strategy designed to give public companies authentic access to the investors who are actually making decisions.

That’s what makes this more than a podcast. It’s a proof of concept for a new kind of investor engagement — one that meets shareholders where they are, in the formats they trust, with the depth they’re looking for.

What’s Next

Season 2 of Marketopolis is now in production, with new episodes dropping weekly on YouTube, Spotify, Apple Podcasts, and all major platforms. Expect more CEOs, deeper conversations, and continued focus on the intersection of leadership, markets, and the retail investor movement.

If you’re an executive or IR team interested in joining the show, reach out at bookings@farsight-group.com or fill out this form.

Stakeholder Labs

Stakeholder Labs helps public companies build narrative strategy, drive market awareness, and engage the next generation of investors. Marketopolis is produced by Stakeholder Labs. After Earnings is produced by Stakeholder Labs in partnership with Morning Brew.

Discovery is moving into AI assistants and GPTs where ads will sit next to answers, making paid distribution a part of investor communications strategy. The IPO window is open, momentum is building, and attention is scarce, which means your earnings and announcements need to travel farther, faster, to reach retail investors and pros alike.

What’s inside:

• 1) Investors’ toolkits are being super-powered. Why bespoke AI beats generic SaaS, and what that means for IR and retail investors.

• 2) Corporate access is evolving. Scalable public formats that reach all audiences, including retail investors.

• 3) Ads are an IR tool, and they are moving into AI. How to use paid distribution across platforms and assistants to reach retail and institutional investors.

• 4) The IPO window is open, and attention is more competitive. Plan around a louder market that pulls focus from earnings, especially for retail investors.

Bonus: Katie Perry announced her new book, an exploration of how companies are adapting to the new realities of the retail investor boom that has sustained itself since Robinhood took off, Covid and Gamestop brought investing mainstream, crypto accelerated real-time trading behaviors, and AI democratized access to investment information for anyone without a Bloomberg Terminal..

1) Investors’ toolkits are being super-powered. Your IR and Comms stack needs to be rebuilt.

Two forces are converging. First, every mainstream investors will use powerful AI toolkits to research companies, trade stocks, and manage their portfolios. Second, SaaS is losing ground in corporations to AI-native, company-shaped software.

With GPT-5’s launch, both professional analysts and retail investors can spin up custom research workflows in minutes. The FT argues the “fund manager of the future might just be a machine,” reflecting rapid adoption of AI across the investment stack. A viral LinkedIn post claimed Claude was given execution access to a $100k brokerage account, an example of autonomous agents touching real capital. This tracks what we have been seeing around AI-assisted earnings and research workflows. In our own coverage, we highlighted how AI tools summarize calls, pull sentiment, and surface red flags in seconds. Broker platforms are adding AI-powered helpers for discovery, which retail investors will use: Interactive Brokers’ Investment Themes.

How can public companies keep up with democratized access to professional grade tools??

OpenAI’s Sam Altman has been telling operators that AI is driving a step-change in how software gets built and customized. The message: the world will need far more software, increasingly tailored to the org that uses it. See Sam Altman on bespoke software.

For IR teams, that means off-the-shelf SaaS software that only “add AI” will lag behind AI systems built to your workflows, data, and strategies.

Do now: Re-evaluate software partners. Off-the-shelf SaaS is no longer enough. Prioritize vendors shipping true customizations for you, not just bolted-on AI features.

2) Corporate Access is evolving, utilize formats that scale across all investors.

Corporate access is getting tighter and more concentrated among a handful of multistrat hedge funds, which makes public content strategy even more important for everyone else. Scalable formats even the field, and help you reach retail investors at the same time you serve institutions.

Online brokers are “hot again,” with engagement up and millions of new accounts, a clear signal that retail investors remain active consumers of market content. Your content needs to be easy to discover and share on those platforms.

Do now: Pick 3 formats you can ship every earnings cycle, then standardize the pipeline: record, cut, caption, post, and email. Digital video, social clips, newsletters, and new-media interviews scale to both institutions and retail investors. They travel farther than a static deck.

3) Ads are an IR tool, and they’re moving into AI.

X is preparing to put ads inside Grok’s answers. That means investor touchpoints will increasingly include AI chat surfaces where retail investors ask questions. FT on Grok ads, BI recap.

Extra signal: The Transcript post on how Google Search and Ad traffic is dropping for many top companies.

Do now: Program for content amplification and discovery with paid. Keep running targeted campaigns that amplify earnings calls, executive interviews, and post-call explainers on X and LinkedIn. Plan for AI placement. As ads land in assistants and GPTs, prepare clean, compliance-approved snippets that can be surfaced contextually next to investor questions.

4) The IPO window is open, and attention is more competitive.

IPO momentum is real, across sectors.

• Figma went public July 31 on the NYSE and became a bellwether for software listings.

• Firefly Aerospace priced an upsized deal at $45, then debuted on Nasdaq.

• Figure Technology Solutions filed confidentially.

• Carro is preparing a U.S. IPO as soon as 2026.

Even if you are not listing, there is a knock-on effect: IPO news competes with earnings for time and clicks. Retail investor attention is tough to capture in general and they gravitate towards “newness.”

Do now: Plan multi-layer digital distribution strategies around your earnings and post-earnings announcements, enabling retail and institutional investors to still find your narrative in a noisy market. And as always, MEASURE what works and optimize what didn’t work as well.

Actionable checklist

• Make materials AI-ready. Short, quotable snippets, chaptered videos, clean transcripts, and a one-page “what changed.” Works for retail investors and pros.

• Broaden access. Publish executive interviews in formats retail investors already use, and keep the IR site as the canonical source.

• Scalable formats. Ship a repeatable mix each quarter: 3-minute video, newsletter note, social thread, and a podcast slot.

• Program for discovery with ads. Ongoing, lightweight paid on LinkedIn and X to amplify earnings, explainers, and management clips to reach retail and institutional investors. Anchor creative to what is performing.

• Read the Market. IPOs are in focus. Calibrate timing, hooks, and headlines so your updates break through while cycles are hot.

Bonus: Katie Perry is writing a book on how companies are building strategies for the retail investor era!

Katie Perry’s announcement: she is teaming up with Wiley, a top U.S. business publisher, to write a book on how companies are adapting to long-term retail investor participation. Katy has partnered with Stakeholder Labs on many marketing and product initiatives, and she co-created and hosted After Earnings with Morning Brew. She is also one of the top hosts of the Daily Rip show with Stocktwits, one of the largest retail investor platforms on the internet. We are excited to see this deep dive into the world of retail and corporates, and we look forward to contributions from friends across the ecosystem.

Sharing Katie’s “call for interview contributors” here.

Want Stakeholder Labs to help deploy a new digital investor strategy for your IR team? Email hello@stakeholderlabs.com.

TL;DR (skim‑in‑60‑seconds)

• IPOs are back – H1 2025 deal count +35 % YoY and oversubscribed tech debuts (Figma, Circle) are handing retail investors real first‑day pops.

• Retail Renaissance 3.0 – Meme‑stock energy (GoPro, Krispy Kreme) proves communities still move tape; options UIs increasingly look like bet‑slips.

• Everything is Going On‑Chain – From tokenized private shares to 24/7 fractional real‑estate, blockchain rails are colliding with disclosure rules.

• Crypto as Treasury Strategy – SharpLink just flipped the Ethereum Foundation with a 280 k ETH war‑chest; expect others to copy‑paste.

• AI eats IR – ChatGPT‑run portfolios beat benchmarks, synthetic narratives multiply; IROs turn into real‑time threat‑intel desks.

The IPO Window Swings Open—For Those Ready

EY’s latest Global IPO Trends report shows 109 U.S. IPOs in H1 2025 (+35 % YoY) despite tariff turbulence and rates jitters. 📈

• Figma priced at $31 (above the raised $30–32 range) and opened at $85 on July 31—a +174 % first‑day surge. [Insert chart: Figma day‑one pop]

• Circle shattered expectations in June with a 5× run‑up, proving the Revolving Door between crypto and public markets swings both ways.

Why it matters: Retail‑forward platforms like Robinhood IPO Access continue to blur roadshow velvet ropes; retail investors are getting a seat at the table in the IPO process.

Retail Renaissance 3.0: Meme Mania Reloaded

CNBC and Bloomberg both rang the bell: “Meme Stocks Are Back.” July saw:

• GoPro (GPRO): intraday +73 %, closing +12 % on 34 × volume.

• Krispy Kreme (DNUT): halted twice, peaked +39 %.

• Kohl’s, Beyond Meat, Opendoor followed on WSB momentum.

Why it matters: Retail conviction forces IROs and Comms teams to monitor sentiment in real time.

Bet‑Fi: When Neobrokerages Become Sportsbooks

Matt Levine’s Money Stuff (“Do Your Betting With Your Broker” – Jul 10) nails it: the Robinhood options ticket now mirrors DraftKings’ parlay builder. Add prediction‑markets like Polymarket (Netflix‑earnings side‑bets) to earnings and you inject a meta layer to the “degenerate economy” (h/t Howard Lindzon).

Why it matters: IR and Comms must confront a new class of speculative player in the markets: part gambler, part investor. Even betting on the narrative components of an earnings call - the frequency of their words.

Tokenization & Private Markets Become Public

• “The Stocks Will Be Tokenized” (Money Stuff, Jul 2) charts the migration of listed, unlisted equity onto blockchain rails.

• Robinhood EU launched 200+ stock tokens (OpenAI, SpaceX). OpenAI’s rebuttal, “these tokens are not equity,” spotlights the disclosure gray zone.

• Bernstein now calls 2025–27 an “equity tokenization super‑cycle.”

Why it matters: Like everything else in this new world, the token movements will affect the price and sentiment of related stocks. And there might be a lot more IR and Corp Comms jobs opening up as private companies have to operate like public companies.

Crypto Treasuries: The ETH Arms Race

SharpLink Gaming (SBET) bought its way to 280,706 ETH (~$860 M), overtaking the Ethereum Foundation (Jul 15). Staking rewards already add 415 ETH/month.

Why it matters: Expect mid‑caps with tepid core growth to “bootstrap” valuations via hard‑asset treasuries. Disclosure dashboards and concentration risk metrics will become table‑stakes.

AI Agents Invade the Capital Stack

• A high‑schooler’s $100 ChatGPT portfolio beat the Russell 2000 by +23.8 % in four weeks (Jul 31, Decrypt).

• Grok vs. GPT‑4o day‑trading contests trend on Reddit; viral posts claim 100 % returns in 10 days.

https://x.com/gregisenberg/status/1950544309515637126

someone on reddit let ChatGPT manage a $100 stock portfolio for four weeks and beat the market by 23%.

here are 14 things it means for you, markets and the future of finance:

1. there will be a massive market crash caused by too many AIs making the same trades. when millions of ChatGPT instances start following similar logic, you get dangerous herding behavior. the reddit user asked to buy microcaps and it ONLY bought biotech. imagine this at scale.

2. companies will start optimizing press releases for AI readers, not humans. the businesses that write in "AI-parseable" language will get disproportionate algorithmic attention and investment.

3. we'll see the rise of "AI investment clubs" where people pool money and let collective AI strategies compete. it'll be like fantasy football but with real money and ChatGPT as your quarterback.

4. financial advisors will become "AI prompt engineers." instead of picking stocks, they'll craft the perfect instructions for AI systems and charge clients for their prompting expertise.

5. day trading will be completely dominated by AI within 18 months. humans won't be able to compete with AI that can process earnings calls, news, and social sentiment in real-time.

6. every retail investor will have an AI trading assistant by 2027. not managing their money directly, but whispering suggestions in their ear based on news they'd never read themselves.

7. investment newsletters will pivot to selling "winning prompts" instead of stock picks. why give you fish when they can sell you the AI fishing rod?

8. someone will build a "social network for AI trading strategies." think github for investment prompts where successful strategies get forked and improved by the community. a16z prob funds it

9. the SEC will create new regulations around "algorithmic investment advice." they'll scramble to figure out who's liable when your ChatGPT loses your retirement savings.

10. google searches for basic financial terms will plummet by 50%. why google "what is a P/E ratio" when you can ask your AI assistant to explain it while analyzing your portfolio?

11. the phrase "my AI beat your AI" will become the new "my dad can beat up your dad." AI performance bragging becomes a social status symbol.

12. your bank will offer "AI portfolio management" as a free checking account feature. basic AI investing becomes as common as mobile deposits.

13. AI will create the first "algorithmic insider trading" scandal. when AI can predict earnings better than executives, the definition of insider information gets blurry.

14. the stock market will have its first "AI flash crash" caused by recursive feedback loops. millions of AI systems reacting to each other's trades in milliseconds.

the reddit post went viral because it feels like a glimpse into a world where everyone has access to institutional-level analysis. but really, it's showing us how quickly we're willing to hand over decision-making to systems we don't understand.

maybe that's not entirely bad though. most people are terrible at investing anyway, they buy high, sell low, and let emotions drive every decision. if AI can remove the emotional component and stick to data-driven strategies, maybe we'll all end up better off. And plus financial advisors charging ~1% AUM has been unchallenged for too long.

Why it matters: IR roles shift from crafting messages to curating data pipelines for AI readers—while policing deep‑fake earnings calls.

Capital markets are now a mash‑up of TikTok virality, crypto programmability, and AI velocity. Retail traders now set intraday narrative arcs; token engineers compress settlement cycles; AI copilots parse filings before humans can blink. The convergence empowers investors in many ways, while raising the stakes for corporates trying to navigate today’s markets.

For IROs and comms teams the mandate is clear: master the feedback loops. Treat online community sentiment as seriously as analyst feedback, explore the next-gen tech implications for your business, pre‑build crisis rebuttals that travel at the speed of X. Pair every flashy mechanic (fractional tokens, AI chatbots, prediction markets) with plain‑English disclosure and a human tone. The upside is valuable: deeper loyalty, cheaper capital, faster signal extraction.

Stakeholder Labs will continue to explore this new world: testing playbooks, publishing field notes, and spotlighting the experiments. Please reach out if you are interested in partnering.

Andreessen Horowitz recently published How Generative Engine Optimization (GEO) Rewrites the Rules of Search, breaking down the impact of consumer-grade AI tools on marketing. Specifically the disruption of SEO. Generative search engines and GTPs are becoming the new way we discover and trust information online.

For public companies, this shift isn’t just about digital visibility, it’s about share price, investor trust, and market influence. Investors are already using generative tools to get synthesized answers to questions like:

“Show me the energy stocks with the most upside.”

“How were Salesforce’s earnings this quarter?”

“Based on the election, which companies should I invest in?”

“Is Rivian losing money?”

“Should I buy Adobe stock?”

What appears in those answers will increasingly come from LLMs, not links. That means investor relations (IR) and corporate comms teams can no longer rely on traditional playbooks - IR site, SEC filings, press releases, and media outreach to manage their narrative. GEO (Generative Engine Optimization) is now a required competency for finance, comms, and capital markets teams.

What’s GEO, and Why Does It Matter?

GEO is the practice of shaping how large language models (LLMs) interpret and summarize your company, product, executive, etc. In contrast to SEO, which focuses on link rankings, GEO determines what investors see and believe when they ask a generative system for financial insights.

This shift upends traditional IR dynamics:

• Instead of reading your earnings release, investors may read a chatbot’s summary of it.

• Instead of parsing your ESG report, they may ask Claude or FinChat for a one-line answer.

• Instead of watching your webcast, they may see your risk factors distilled through an LLM trained on media headlines or outdated filings.

If your official disclosures aren’t structured for discoverability, attribution, and clarity within these systems, they may not appear at all—or worse, be misrepresented by less credible sources.

Why It’s Urgent

Narratives have always moved markets, but GEO changes how and who controls that narrative. Generative platforms are becoming the default way institutional investors, retail traders, analysts, content creators, and journalists gather context. They’re faster than traditional research, and for many users, “good enough” to act on.

This presents both risk and opportunity:

• Risk: If inaccurate or incomplete summaries become the first point of contact, it can lead to reputational drag, investor confusion, or volatility in a momentum based market.

• Opportunity: Companies that structure and prioritize their communications for generative engines will appear first, clearest, and most accurately—amplifying their intended message.

This isn’t just a comms issue. It’s a capital markets function. The speed and scale at which LLMs distribute financial narratives demands a new layer of IR strategy.

How IR and Corporate Comms Teams Can Adapt

To engage this new interface layer, investor relations and corporate comms teams must reframe their materials not just as disclosures, but as data pipelines for AI systems.

Here’s how to start:

• Structure content in Q&A or bullet formats. Generative engines better digest modular, direct inputs.

• Use plain, repeatable phrasing for key metrics. Make your earnings and guidance easy to parse and synthesize.

• Embed canonical URLs and metadata in your IR content. Help LLMs identify and prioritize your official narrative.

• Monitor how your company appears in generative results. Prompt ChatGPT, Claude, or Perplexity with investor-style queries and track hallucinations or inaccuracies.

• Prioritize publishing on domains LLMs trust. Syndicating your narrative through credible sources influences what generative models cite.

The rules of visibility have changed. Optimizing for LLMs is now table stakes for investor communications.

What Tools Are Shaping Investor Research?

To succeed at GEO, companies must understand which generative tools investors rely on and how those tools process content. Here’s a quick snapshot of the most influential:

Mass-Market Generative Engines

These platforms are widely used by retail investors, general users, and increasingly institutional researchers. They shape first impressions and often serve as the starting point for investor inquiries.

• ChatGPT (OpenAI): Used for earnings breakdowns, strategic summaries, and valuation insights; integrated into Excel and Copilot workflows.

• Claude (Anthropic): Excels at parsing long documents like 10-Ks, ESG reports, and transcripts; trusted by analysts for context-heavy queries.

• Perplexity.ai: Offers fast, source-cited answers to finance questions; increasingly popular with retail and digitally native investors.

• Google Gemini (SGE): Embedded into daily search behavior; casual investors often ask company-related questions here without reaching IR sites.

• Grok (xAI / X): Elon Musk–backed generative AI integrated with X (formerly Twitter); used to analyze real-time financial chatter, news, and sentiment. Why it matters: It may synthesize your company's narrative directly from social signals, tweets, and headlines - making social reputation part of generative visibility.

Finance-Specific Research Tools with Generative Layers

These platforms are purpose-built for investors and financial professionals, offering domain-specific interfaces that integrate structured data, transcripts, and AI-enabled discovery.

• FinChat: Chat-first financial research tool built for KPI queries, valuation models, earnings synthesis, and quick comparisons.

• Koyfin: Combines charting and financial data visualization with natural-language search; widely used by analysts tracking macro and company-level performance.

• Quiver Quantitative: Surfaces alternative data like insider trading, congressional activity, and social sentiment; increasingly cited by generative engines.

• Quartr: Provides audio, transcripts, and slides from earnings calls; fuels how AI models learn executive tone, phrasing, and disclosure cadence.

Each of these tools plays a role in shaping how your company is discovered, summarized, and judged. In the GEO era, capital markets teams must treat these interfaces like real stakeholders because to many investors, they already are. Each of these platforms is now an invisible gatekeeper between your company and the market’s perception of it.

AI Isn’t Just a Research Layer, It’s Now an Investor Itself

While generative tools are transforming how investors research companies, the next wave is even more consequential: AI systems are starting to allocate capital. Products like Autopilot’s GPT Portfolio are fully AI-managed strategies where large language models help select, evaluate, and rebalance equity positions based on synthesized insights from public information.

This flips the traditional model. Instead of humans using AI for research, AI is now using public narratives to make investment decisions at scale. And that makes GEO a market-moving variable, not just a messaging concern.

Here’s why it matters:

• AI portfolios respond to narrative velocity. If your company is frequently summarized in positive or negative terms across LLMs, it could influence position sizing or exclusion.

• LLMs can amplify nontraditional signals. AI models might overweight ESG disclosures, executive tone, or social sentiment depending on how content is structured and sourced.

• These products scale instantly. Unlike retail investors or analysts, AI portfolios can reallocate based on new summaries or filings the moment they’re indexed.

As more AI-native funds emerge from fintech startups to institutional quant shops your company’s GEO footprint may directly influence whether you’re included, excluded, or over/underweighted. For IR teams, that’s not a future trend. That’s a current exposure.

IR and Corporate Comms in the GEO Era

Investor Relations and Corporate Comms has always been about shaping how the market understands and values your business. GEO doesn’t change that, it just changes the rules of engagement.

Your IR team is now in conversation not only with analysts and shareholders, but also with the AI systems that summarize your company on demand. If your narrative isn’t setup to be encoded into these systems in real-time, you’ve lost control of it.

Stakeholder Labs is helping public companies build for this future by structuring communications that resonate across human and generative stakeholders alike. If you want to know how your company appears in generative systems or how to influence it, we can help.

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Why: Retail Sentiment Has Outsize Impact in a Momentum-Driven Market

Apollo’s report shows that as passive and rules-based strategies dominate, market price elasticity decreases — meaning fewer investors are buying or selling based on changes in company fundamentals. In this environment, the marginal decision-maker — the investor who still responds to perception — has disproportionate influence.

That marginal investor is often retail.

Retail investors react in real time to news, sentiment, and social engagement. They discuss tickers on Reddit, watch CEO interviews on YouTube, and act within minutes. When they buy with conviction, price and volume rise — drawing in quant funds chasing momentum. When they exit, the effect reverses.

In a momentum driven market, it’s about narrative velocity. When retail builds a story around a stock — driven by belief in the product, leadership, or vision — they create organic demand that institutional algos often end up chasing.

These dynamics can influence:

• Stock price momentum, which triggers algorithmic interest.

• ETF and index fund inclusion, especially in momentum or sectoral indexes.

• Sell-side and media attention, amplifying visibility beyond company control.

How: Rethinking Engagement in a Non-Narrative Market

If most of the market doesn’t care about your story, what’s the value in pitching them? Investor relations strategies must now focus on the part of the market that still listens — and acts.

This starts with measurement. Companies need to understand how retail investors feel about their stock — what’s being said on message boards, how sentiment changes after earnings, and which narratives are resonating. Apollo highlights that traditional passive flows may distort price signals — so ignoring sentiment data means flying blind.

At Stakeholder Labs, we’re helping our clients close this gap. By monitoring retail investor behavior and engagement across platforms like Reddit, X, and online forums, companies can get a real-time read on retail sentiment — and act on it.

Next, companies must scale their retail communication. That doesn’t mean jumping on every meme trend, but it does mean using channels retail investors trust: direct Q&As, new media, retail-friendly earnings formats, transparent updates, and social media.

According to IR Impact’s investor playbook, most IR teams still focus their efforts on traditional outreach methods — like earnings calls and investor conferences — even as digital-native investors (both institutional & retail) increasingly consume information through social media, video content, and interactive formats.

How: Public Companies Must Shift to Sentiment-Driven Engagement

Most IR teams still focus heavily on institutional conferences, earnings calls, and sell-side coverage — engaging capital that is either passive or pre-programmed. It’s time to shift those efforts toward capital that is still influenceable.

Start with measurement. Track what retail investors are saying on Reddit, X, and investor forums. Understand not just what they own — but how they feel about it. Apollo’s paper warns that passive flows distort price signals; retail sentiment helps you re-center on perception-based data that actually reflects market momentum.

Then build for scale:

• Open up investor communication to interactive formats — Q&As, social media, and video podcasts.

• Simplify your content — earnings calls, press releases, and decks should be comprehensible to non-CFAs.

• Target investor communities — platforms like X, Reddit, Stocktwits, YouTube, and Youtube interpret and translate information for their audiences.

• Use tools from Stakeholder Labs to aggregate investor sentiment data and connect with the retail investors directly.

Influence Is a Scarce Resource — Spend It Where It Works

The public equity market isn’t vanishing — but its responsiveness is. Passive and quant flows have won the volume war. But retail — and a handful of agile institutional players — still carry the power of discretion. They’re the ones who decide to believe your story. They’re the ones who talk, buy, and influence momentum.

Apollo’s data confirms the structural shift: influence is shrinking. But where it remains, it’s potent. Companies that stop pitching to immovable capital and start engaging influenceable investors — especially retail — will see the returns in visibility, momentum, and ultimately, valuation.

Stakeholder Labs

Stakeholder Labs empowers public companies to identify and directly engage the next generation of investors — retail and active institutional alike. We turn sentiment data into action, and action into long-term investor engagement. Ready to shift your strategy toward investors who still make decisions?

“The more you learn, the more you earn.” -Warren Buffet

Millennial and Gen Z investors are learning from experience. Collectively, these investors have experienced multiple market cycles - from the post-2008 recovery and the rise of digital trading platforms for stocks and crypto, to the volatility of the pandemic era and recent macroeconomic shocks. At this point, some Gen Z investors have been active participants in the markets for over a decade. 🤯

Today’s investors are wielding real-time data, a constant stream of financial content, and increasingly sophisticated AI-powered tools that function like personal financial analysts, they are learning faster than any generation before them. As a result, retail investors are not only more market-literate, they’re strategic, confident, and acutely aware of the influence they can exert. Specifically, the broader impact of their collective voice and action in public markets.

We take a look at two recent reports diving into the current state of retail investors, who they are, and how they’re behaving today. The 2024 Global Retail Investor Outlook, produced by the World Economic Forum in collaboration with BCG and Robinhood, reveals that younger investors are increasingly interested in shaping the strategic direction of the companies they invest in. Concurrently, eToro’s Q1 2025 Retail Investor Beat, shows that retail investors have developed greater resilience and discipline, maintaining or increasing their positions even in periods of heightened uncertainty.

The trend is clear: retail investors are engaged, informed, and actively redefining what it means to be a shareholder.

Gen Z Is Driving a New Era of Shareholder Activism

According to the WEF report, 54% of Gen Z investors express a desire to influence corporate behavior, including areas such as sustainability, governance, and executive compensation. This contrasts with only 30% of Baby Boomers who express similar intentions.

This generational divergence is not solely about age—it reflects fundamentally different expectations around ownership. Gen Z views shareholding as a reciprocal relationship. Just as they demand authenticity and accountability from consumer brands, they are now applying those same standards to the companies in which they invest.

And their presence is being felt. Shareholder proposals focused on ESG, governance, and company culture are gaining momentum. These investors are casting informed votes, participating in annual meetings, and engaging directly with companies. They are not waiting for permission to be heard.

This behavior challenges traditional investor relations (IR) paradigms. Companies that continue to treat IR as a quarterly, compliance-oriented exercise risk alienating an increasingly influential investor segments and communities. Today’s retail investors expect direct engagement, transparency, and ongoing dialogue.

Retail Investors Are Demonstrating Long-Term Conviction

Contrary to the stereotype of retail investors as speculative or reactive, the data reveals a more strategic posture. During the volatility of Q4 2023—amid inflationary pressures, geopolitical tensions, and economic uncertainty—81% of U.S. retail investors either maintained or increased their positions. Only 7% reduced their exposure.

In Asia and the Middle East, conviction was even stronger, with nearly two-thirds of retail investors increasing their holdings.

This behavior reflects a thoughtful and deliberate approach to investing. Retail participants are increasingly values-aligned and fundamentals-focused. They are not simply trading; they are allocating capital in alignment with long-term objectives.

This level of engagement demands more than conventional disclosures. It requires real communication.

Implications for Companies: A New Standard for Investor Communication

What retail investors expect from companies is evolving. Transparency, authenticity, and accessibility are no longer optional—they are expected.

These investors seek to understand what companies stand for, not just what they earn. They are accustomed to consuming information via social media, podcasts, and video—not technical filings. As such, companies must reimagine IR as a dynamic function that blends traditional reporting with modern, human-centric communication.

Investor relations and corp comms have to evolve their financial comms playbook - continuous, proactive, and relationship-oriented. The companies that lead in this space will not only attract capital but also build trust and loyalty among a growing base of influential investors.

A Structural Shift, Not a Passing Trend

The rise of the engaged retail investor is not a fleeting phenomenon. It represents a structural shift in capital markets. Gen Z and Millennial investors are purposeful, resilient, and increasingly influential. Their expectations and self-awareness are reshaping the responsibilities of public companies.

Organizations that embrace this shift—and engage retail investors as stakeholders, not spectators - will be best positioned to succeed in this new era.

Trust, once earned, will be the most durable form of capital.

While institutional investors pulled back early this year, everyday traders leaned in. They’re showing resilience during market volatility, conviction around brands they believe in, and a willingness to act on everything from earnings reports to viral videos. This isn’t a phase. It’s the future.

Retail Investors Aren’t Just Watching—They’re Leading

The S&P 500 may have had a shaky start to the year, but retail investors haven’t flinched. According to the Financial Times, while institutional money managers trimmed their equity exposure in Q1, retail traders kept showing up and even increased their buying during market dips.

Tesla is a perfect example. The company’s stock surged recently, not because of a major product announcement, but after Elon Musk hosted a rare all-hands meeting and dropped a few viral soundbites. There was also some strategic support from Donald Trump and the usual internet frenzy around Dogecoin.

That loyalty doesn’t come from balance sheets alone. It comes from creating a sense of ownership and identity around a brand. Today’s investors want to understand where the car is going, who’s driving, and why the destination matters.

Newsmax’s 2,000% Surge: A Case Study in Community Capital

Newsmax just pulled off one of the most dramatic IPO debuts in recent memory. After raising $75 million through a Regulation A+ crowdfunding campaign — opening investment to both accredited and everyday retail investors — the conservative media brand hit the NYSE under the ticker “NMAX.” The result? A 735% surge on day one, with shares eventually climbing over 2,200% from the offering price.

What’s driving it? A mix of loyal audience-turned-investors, limited share float, and viral energy reminiscent of the early meme stock era. But this isn’t just about hype. Newsmax’s path reflects a broader trend: companies tapping into community capital and giving retail investors a front-row seat to growth. For IR teams, it’s another signal—equity storytelling doesn’t start at the IPO anymore. It starts the moment your audience becomes your cap table.

Newsmax's recent IPO not only captivated the market with its remarkable surge but also spotlighted a significant technological advancement in the traditionally archaic realm of transfer agents. Central to this innovation was the collaboration between Equity Stock Transfer and Vinyl Equity, who jointly developed custom software to efficiently process nearly 25,000 pre-IPO shareholders. This development underscores a pivotal shift towards modernizing the software that powers our capital markets.

Sometimes, all it takes is a viral TikTok

Primo Brands, the parent company of Saratoga Spring Water, saw its stock spike 16 percent after a viral TikTok video praised the look and feel of its glass water bottles. There was no earnings news or product launch, just a cultural moment that caught fire online.

And yet, that moment led to a flurry of trading activity. It wasn’t random. Retail traders saw the buzz, saw the brand, and jumped in.

For investor relations teams, this kind of event is more than just a curiosity. It’s a wake-up call. When a brand goes viral, it’s not just a marketing opportunity. It’s a potential investor moment. The audience is already paying attention. The question is whether you are ready to join the conversation.

This is where social listening becomes critical. IR can no longer afford to be reactive. When trading activity spikes due to something unexpected, like a TikTok or Reddit post, IR teams need to know what’s going on and be ready to engage.

What Smart IR Looks Like in 2025

The investor relations teams winning today are doing three things:

1. Engaging beyond earnings calls. Think CEO videos, Reddit AMAs, and live-streamed Q&As—not just PDFs and press releases.

2. Prioritizing transparency and clarity. Ditch the jargon. Say what you mean. Build trust through honest, accessible communication.

3. Using tech to meet investors where they are. AI-powered FAQs, interactive dashboards, and real-time sentiment tracking are now table stakes.

Investor relations today is more like investor marketing. Companies that treat shareholders like stakeholders—and like customers—are the ones that will thrive.

Stakeholder Labs builds software for public companies that want to uplevel shareholder analytics and engagement to support long-term growth. Contact us to learn more.

That’s where Stakeholder Labs comes in. We’re building tools and media properties that help public companies connect with their investors in real-time, using the channels where those conversations are already happening. It started with our first media property, After Earnings (from Morning Brew), and now, Stakeholder Labs is expanding its portfolio with a new show in partnership with Stocktwits, designed to bring executives directly into the market’s most active discussions on the internet.

A New Era of Investor Communication

The launch marks Stakeholder Labs' second major push into investor-focused media. This new show, created in partnership with Stocktwits—the largest social media community for investors—features Fireside Chats with CEOs and CFOs that take a unique approach to investor engagement.

Unlike traditional interviews, this new format is built around the real questions and concerns that investors are voicing online. For each episode, the production team scours social media and verified investor platforms like Stocktwits, Reddit, YouTube, and X to identify the most talked-about topics surrounding a stock. These insights shape the conversation, ensuring that CEOs are addressing what actually matters to the market. Additionally, through Stocktwits, the show sources direct questions from verified shareholders, adding another layer of authenticity.

The premiere episode features Rob O’Hare, CFO of Affirm, discussing the company’s position in the Buy Now, Pay Later (BNPL) space, its long-term vision, and its business model—all framed by real-time investor sentiment. The show’s rapid-fire format creates a more candid, dynamic exchange, making it an essential watch for investors who want unfiltered insights straight from the source.

Building on the Success of After Earnings (from Morning Brew)

This is Stakeholder Labs’ second major step in reshaping investor engagement through content. In March 2024, the company partnered with Morning Brew to launch After Earnings, a show designed to break down earnings calls with the executives leading those companies in a more accessible format.

The idea behind After Earnings was simple: earnings reports are dense, filled with jargon, and often difficult for the average investor to interpret. Yet, they contain some of the most critical insights into a company’s performance and future direction. After Earnings brings these updates to life by featuring CEOs and CFOs immediately after their earnings calls, giving them the opportunity to provide deeper context, clarify key points, and address investor concerns in a conversational format.

The show has been a resounding success, featuring top executives like:

• Marc Benioff, CEO of Salesforce, opining on the impact of AI on everything (see video below)

• David Denton, CFO of Pfizer, discussing financial strategy post-pandemic

• Harley Finkelstein, President of Shopify, on the company’s e-commerce expansion

• Tarang Amin, CEO of e.l.f. Beauty, breaking down their growth in the beauty industry

• Gina Mastantuono, CFO of ServiceNow, on digital transformation and enterprise software growth

The response from investors has been overwhelmingly positive, reinforcing the need for more accessible and engaging investor communication.

Stakeholder Labs’ Vision for the Future of IR

Both After Earnings (from Morning Brew) and this new show with Stocktwits represent a shift in how companies communicate with their shareholders. Today’s investors, especially retail investors, aren’t waiting for earnings reports to understand a company’s performance—they’re analyzing stock movements daily, engaging in discussions on social platforms, and forming opinions in real time. Stakeholder Labs recognizes this shift and is building solutions that bridge the gap between investors and the companies they follow.

By creating these new formats, Stakeholder Labs is helping IR teams modernize their approach, bringing executives out of static reports and into direct, interactive conversations with their shareholders. As the company continues to build innovative IR tools and investor engagement solutions, it remains focused on one goal: helping public companies connect with investors through software and content.

If your company’s CEO or CFO is interested in coming on either show. Please reach out.

For decades, financial news was controlled by legacy outlets like CNBC, Bloomberg, and The Wall Street Journal. These institutions set the agenda, dictated market narratives, and operated within a formal, top-down structure. But the rise of new financial media—including Morning Brew, Sherwood Media, Finimize, and fintech platforms launching media arms like Robinhood, Public.com, and eToro—has upended this model. These digital-first players prioritize bite-sized, engaging content tailored for a younger, mobile-first audience.

Meanwhile, financial discourse is becoming more decentralized through platforms like Reddit, X (formerly Twitter), Stocktwits, Urvin, and AfterHour. Rather than relying solely on polished institutional reports, retail investors now turn to real-time market discussions and user-generated insights. Content creators like Kyla Scanlon and Austin Hankwitz are further reshaping financial content by blending analysis with entertainment, making complex topics more digestible. Even traditional institutions like NYSE and Nasdaq are adapting, integrating content into their market engagement strategies.

The result? A fragmented yet dynamic media landscape where financial authority is no longer confined to legacy institutions. Today’s investors pull insights from an evolving mix of journalists, fintech platforms, online communities, and independent creators, reflecting the demand for more accessible, real-time, and interactive financial content.

Exchanges Are Becoming Content and Community Hubs

Stock exchanges like NYSE are no longer just market infrastructure providers—they are evolving into financial content distributors. The NYSE Partnership Day highlights this shift, bringing together media outlets, research firms, and fintech companies to distribute market insights more broadly. By becoming the nexus of financial media, social platforms, investor newsletters, content creators, and educational resources, exchanges are positioning themselves as thought leaders and direct engagement platforms for both retail and institutional investors.

Product Partnerships and Integrations

Investing platforms are partnering new distribution products to blend community-driven discussions with structured financial content. A great example is Stocktwits' partnership with Beehiiv, where finance-focused newsletters expand the reach of trading conversations, creating new monetization opportunities through subscriptions and sponsorships.

Who’s Paying Attention? Understanding the Players and Their Motivations

Everyone in the financial content space is competing for investor and/or market attention—but their motivations vary. Identifying the incentives behind each player can help paint a fuller picture of the dynamics across the ecosystem.

• Fintech Platforms (Robinhood, Public.com, eToro): Content is a user acquisition and engagement tool. Educational resources, social-driven insights, and interactive features help attract and retain retail investors, keeping them engaged and trading.

• Traditional Publishers (CNBC, Bloomberg, WSJ): Their focus remains on influencing institutional investors and market sentiment. With deep analysis and credibility, they cater to analysts, executives, and policymakers who rely on expert insights.

• New Financial Media (Morning Brew, Sherwood Media, Finimize): These digital-first publishers focus on digestible, engaging, and mobile-friendly finance content, catering to younger investors through newsletters, podcasts, and social media-driven insights.

• Content Creators: Their primary goal is monetizing attention via sponsorships, premium content, and community-driven initiatives. By making finance more relatable, they compete directly with legacy institutions for audience trust.

Despite differing incentives, these players are increasingly overlapping—blending traditional journalism, social media influence, and fintech-driven engagement into a new, interconnected financial content ecosystem.

Bringing Executives Closer to Investors: Stakeholder Labs’ Financial Media Properties

As Stakeholder Labs continues to expand its software business, enabling public companies to connect directly with investors and markets, we’ve recognized that the mechanics of engagement and analytics are only part of the equation. Equally important is the message itself. To help clients craft and deliver impactful messaging, we launched two content properties in partnership with leading financial platforms. These shows provide executives with direct access to investors, creating both long-form and short-form video content.

Last year, we partnered with Morning Brew to launch After Earnings, now a top destination for CEOs, CFOs, and investors seeking engaging, executive-level insights. By combining Morning Brew’s storytelling expertise with our investor engagement focus, After Earnings is reshaping how companies connect with modern investors—moving beyond earnings reports to real-time, interactive conversations (see article).

Building on our success with After Earnings, Stakeholder Labs is launching a new show in partnership with Stocktwits. Hosted by Katie Perry, the series will feature CEOs and CFOs answering investor questions sourced directly from X, Reddit, YouTube, Stocktwits, and other online financial communities. This format leans into the growing demand for direct access, giving investors a front-row seat to executive insights while showcasing how companies engage with retail audiences. The first episode, featuring Affirm’s CFO, drops next week (press release)!

The Future: From Passive Consumption to Interactive Market Engagement

So, where is all of this heading? One thing is clear. Passive financial media is dying. Investors aren’t just looking for news. They want real-time insights, interactive discussions, and community-driven narratives.

Platforms like Stocktwits, Public, and eToro aren’t just offering tools to trade. They are shaping the conversations that drive those trades. Retail investors now hold more influence than ever, and companies that fail to engage with them risk falling behind.

The takeaway? Content is no longer a side strategy. It is the foundation of investor engagement. Companies need to rethink how they communicate, shifting from top-down messaging to a more interactive, multi-platform approach. Whether through social media, live events, or direct Q&As, the future belongs to those who can make investing feel less like a transaction and more like a conversation.

Stakeholder Labs builds software for public companies that want to up level their shareholder analytics and engagement to support long-term growth. Contact us to learn more.

• Robinhood reshaped the earnings call experience, making it feel more like a post-game show and inviting retail analysts to participate live.

• ICE (Intercontinental Exchange) launched the NYSE IPO Index, providing investors with a structured way to track companies that recently went public.

• Social sentiment is becoming institutionalized, as ICE partnered with Reddit to provide hedge funds and financial firms access to retail-driven investment data.

• AI-powered earnings analysis is emerging, with tools like Box AI summarizing earnings calls instantly.

• Retail investor culture continues to expand, as even pro surfers, led by legends like Shane Dorian and Kelly Slater, now host annual investing competitions.

The big takeaway? Investor communication is evolving from static financial reports into a dynamic, interactive, and community-driven experience. The companies that embrace this shift will build stronger shareholder loyalty and market credibility.

Robinhood’s Radical Rethink of Earnings Calls

Earnings season has always been about numbers, guidance, and investor sentiment. But this quarter, something different happened—companies fundamentally changed how they communicate with investors. Robinhood took one of the most traditional aspects of investor relations—the earnings call—and flipped it into an interactive, high-energy experience.

1. Post-Game Show Vibe: Instead of a dry call, Robinhood hosted its earnings discussion in a casual, high-energy environment that felt more like a sports post-game show than a financial presentation.

2. Retail Analysts Got a Seat at the Table: Typically, only institutional analysts ask questions during earnings calls. Robinhood invited retail analysts—representing its largest shareholder segment—to ask live questions alongside Wall Street analysts.

3. A Model for Scalable Engagement: Robinhood is proving that companies can make earnings calls more engaging without losing credibility. The real innovation is not just in the format but in making it repeatable and scalable for other companies.

This move sets a precedent for the industry. The pressure is now on for other public companies to rethink how they engage investors beyond institutional audiences.

ICE’s IPO Index and Retail Sentiment Partnership with Reddit

ICE, the parent company of the New York Stock Exchange, made two major announcements that signal a fundamental shift in how the financial markets track and engage with emerging companies.

1. The NYSE IPO Index: Spotlighting New Market Entrants

ICE introduced the NYSE IPO Index (NYSE: IPO), a benchmark that tracks newly public companies for three years after their listing.

This index provides investors with a structured way to monitor the performance of fresh IPOs, capturing how these companies integrate into the market over time.

• Companies need a minimum market cap of $200 million and an average daily trading volume of $1 million to be included.

• ICE’s research found that NYSE-listed IPOs have a distinct risk-return profile, often providing excess returns compared to broader indices.

• The index arrives at a time of renewed IPO interest, with AI-related companies and other emerging sectors expected to drive strong market activity in 2025.

For companies considering going public, this index signals increased visibility for new entrants, making it even more critical to refine their investor messaging, brand identity, and post-IPO engagement strategies.

2. ICE & Reddit’s Partnership: Institutionalizing Retail Sentiment

For years, retail investors have used platforms like Reddit and StockTwits to share insights, debate stock picks, and, in some cases, move markets. Now, ICE’s partnership with Reddit validates these conversations as a legitimate data source for institutional investors.

This collaboration enables hedge funds and financial firms to analyze retail-driven investment trends in real time, proving that retail sentiment is not just noise—it’s market-moving intelligence.

For companies, this partnership sends a clear message:

• Retail investor engagement is more critical than ever.

• Social listening should be part of every investor relations strategy.

• Retail-driven narratives can impact stock prices as much as institutional analyst reports.

Stakeholder Labs helps companies navigate this landscape by providing real-time social listening tools and AI-driven investor sentiment analysis, ensuring companies stay ahead of the conversation.

AI-Powered Investor Research & Box AI’s Earnings Call Summaries via Grok

Another major trend emerging from this earnings cycle is the use of AI-powered analysis for investor research.

• Box AI showcased how investors can use AI-driven document analysis to instantly summarize and extract key insights from earnings calls.

• AI-powered research tools are increasingly being used to analyze transcripts, identify sentiment trends, and surface critical data points for investors.

For companies, this means that structuring IR content for AI readability is now a strategic priority. IR websites, FAQs, and reports need to be optimized for AI-driven research tools, ensuring that AI platforms pull accurate and meaningful insights.

Retail Investing Culture Goes Mainstream—Even in Surfing

The expansion of retail investing isn’t just happening in finance circles—it’s spreading into unexpected communities, like professional surfing.

A group of legendary surfers, led by Shane Dorian, Kelly Slater, and the Florence brothers, has been hosting an annual investor competition. The concept? Who can generate the best portfolio returns each year.

At first glance, this might seem like a niche story. But it represents something much larger: financial literacy and investing culture are expanding across all communities.

The investing world is no longer confined to Wall Street or the business adjacent—it’s in group chats, on social media, and even competitions amongst pro athletes. Companies that recognize and engage with these expanding investor communities will be the ones that build the most loyal shareholder bases.

The Future of Investor Engagement is Here

The evolution of investor relations is no longer theoretical—it’s happening in real time. From interactive earnings calls and AI-powered research to the institutionalization of retail sentiment, the way companies engage with investors is fundamentally changing. Companies that embrace this shift will not only build stronger relationships with their shareholders but also enhance their market credibility and long-term value. The message is clear: investor relations is no longer just about reporting numbers—it’s about storytelling, accessibility, and engagement. As retail investors continue to gain influence and AI reshapes how financial data is consumed, forward-thinking companies must adapt or risk being left behind.

Stakeholder Labs builds software for public companies that want to up level their shareholder analytics and engagement to support long-term growth. Contact us to learn more.

Over the past several months, we’ve covered key trends transforming investor relations and corporate communications: companies are prioritizing direct investor engagement, leveraging digital channels with greater sophistication, and meeting growing demand for deeper analytics to measure and refine their strategies.

To build on our own observations in the market, we spoke with agency leaders to understand what themes they’re seeing across clients. Here’s how these experts view the challenges, opportunities, and skills that will matter most in 2025.

1. The Challenges of Corporate Access and Investor Uncertainty

Alyssa Barry, President, Alliance Advisors IR:
“Corporate access is a recurring challenge. Between unanswered calls, virtual meetings, the dynamics of working from home, and the dominance of passive funds, small- to mid-cap companies are facing significant hurdles in connecting with investors. This issue underscores the growing complexity of building and maintaining meaningful relationships in today’s market.”

Barry also highlights the urgency of proactive, creative approaches to corporate access to ensure companies stand out.

Scott Bisang, Founding Partner, Collected Strategies:
”The consistent theme is uncertainty both regarding the consumer and the overall health of the economy. There’s been a sense that a recession has been around the corner every year recently, and those indicators have been wrong every time. The massive uncertainty with tariffs, immigration, and other policy changes has also created anxiety, and more companies than ever are preparing for the potential onslaught of tariffs.”

Key Insight: As economic uncertainty persists, small- to mid-cap companies face mounting challenges in connecting with investors, making proactive and creative approaches to corporate access more critical than ever. Navigating policy shifts and investor skepticism will require IR teams to build stronger, more resilient relationships.

2. A Slow but Growing IPO Market

Tom Colton, Senior Managing Director, Gateway Group:
“After several years of wait-and-see, the argument for ‘this time it’s different’ might have some legs. I do believe we’ll need to see a few larger names pull off successful public listings before downstream issuers gain confidence to take the next step.”

Colton also emphasizes the importance of liquidity events: “With election uncertainty in the rearview and interest rate cuts on the horizon, capital is coming off the sidelines, liquidity options are improving, and we’re seeing a renewed interest in secondary offerings, M&A, and other liquidity events. These are critical inputs for sustaining IPO momentum.”

Alyssa Barry:
“The IPO process is more drawn-out than ever. Companies need to evaluate whether the capital raised is truly strategic. This added scrutiny and time are redefining how companies approach going public.”

Scott Bisang:
“There’s an expectation of a continued rebound in the IPO market in 2025, though I wouldn’t be surprised to see that take a few months to really materialize. Certain sectors will move quickly post-election while others remain cautious.”

Key insight: While optimism around IPOs is growing, companies will need to navigate a more drawn-out process and focus on strategic capital. Successful liquidity events and a few high-profile listings will be key to building broader market confidence.

See also: From Private to Public: How Retail Investors Are Reshaping the Investor Relations Lifecycle of Pre-IPO Companies

3. Undervalued Skills for IR and Communications Teams

Sheila Ennis, Managing Director, H/Advisors:
“We believe the risk of short attacks is on the rise and is under-appreciated by IROs. In 2023, there were 110 short attacks (compared to 27 proxy fights). Companies must be prepared to quickly analyze the adversary’s reputation, modus operandi, and favored channels to mitigate valuation impacts.”

Alyssa Barry:
“Business acumen is a highly undervalued skill. Many IROs can step into the boardroom and offer strategic counsel far beyond the basics of IR. Those who bridge IR with broader business insights are becoming indispensable.”

Scott Bisang:
“Omnichannel marketing is a must. Investors—whether institutional or retail—consume information through a mix of digital and traditional platforms. IROs need to leverage digital tools alongside conventional tactics to ensure they’re reaching their audiences effectively.”

Key insight: As risks like short attacks grow, IROs must combine sharp business acumen with strategic, omnichannel communication to protect value and connect with diverse investor audiences. Those who bridge IR fundamentals with broader business insights will prove indispensable.

See also: How Investor Relations Teams Can Prepare for Activist Pressure

4. Innovation in Corporate Storytelling and Media

Alyssa Barry:
“Companies using creative storytelling to make technical information relatable stand out. For instance, a mining client compared the size of their site to Manhattan. It simplified their narrative and made it memorable.”

Scott Bisang:
“Shopify is a great example of modern communication—leveraging both traditional media like CNBC and retail-focused platforms like social media to connect with investors. They keep their content simple, thoughtful, and accessible to a wider audience.”

Tom Colton:
“Interest in alternative financial media has grown significantly for smaller public companies. These companies, often precluded from mainstream opportunities due to budget or market cap, are exploring new channels to engage investors.”

Colton adds: “Management teams are also demanding clear ROI from these activities. Service providers who can deliver actionable engagement metrics are well-positioned to take market share.”

Key insight: Creative storytelling and alternative media channels are helping companies simplify complex narratives and reach wider audiences. As investor engagement evolves, delivering clear, measurable ROI from these efforts will be critical for success.

See also: See also: The Art of an Effective Shareholder Letter: Turning Numbers into Narratives

5. Evolving Investor Engagement and Digital Tools

Alyssa Barry:
“Many clients are embracing podcasts, owned media, and thought leadership platforms. These channels allow companies to connect with investors directly, sharing their messages authentically.”

Scott Bisang:
“New approaches to IR aren’t as risky as they may seem. Companies wouldn’t rely on one tactic in their consumer marketing strategy, and the same should hold true for investor communications. It’s about testing and adapting.”

Key Insight: Companies are increasingly turning to podcasts, owned media, and thought leadership to share authentic messages and engage investors directly. Just like consumer marketing, a diversified and adaptable approach to investor communications is key to building trust and reaching the right audiences.

The 2025 Perspective from Stakeholder Labs

Agency leaders agree: in 2025, IR and corporate comms teams will need to balance smart strategy with a creative touch. With ongoing market uncertainty, challenges in reaching investors, and a slow return of IPO opportunities, clear and proactive communication will be key. Today’s IROs and corporate communicators need to bring sharp business instincts, a knack for connecting across channels, and the ability to make complex stories easy to understand for all types of investors.

At Stakeholder Labs, we believe that the future of investor relations is about building trust and connection through modern tools and platforms. Retail and institutional investors alike expect meaningful, timely, and authentic communication. Companies that embrace this shift—through storytelling, innovative content formats, and technology-driven engagement—will be better positioned to thrive in 2025 and beyond.

Stakeholder Labs is proud to support this transformation, offering platforms and insights that empower companies to connect authentically with their most important stakeholders. Contact us to learn more.

Duolingo welcomed an unexpected guest during their Q3 2024 earnings call. Lily, the AI agent that guides users through the language-learning experience, joined CEO Luis von Ahn during select moments.

The creative approach effectively demoed Lily’s capabilities to the investment community and underscored the emerging trend of investor marketing in which IR teams are balancing the presentation of financial data with unique storytelling opportunities.

We spoke with Debbie Belevan, VP of Investor Relations at Duolingo, to understand how her team has created a collaborative approach that brings together design, marketing, and PR teams to elevate their IR program.

Success goes deeper than having access to good design—it’s about efficiency and alignment. For IROs, Duolingo’s model offers a practical framework for improving investor engagement while maximizing limited resources.

Balancing Creativity with Strategy

The idea to have Lily join Duolingo’s earnings call came up during a brainstorm that was taking place during a senior leadership offsite. “When discussing our new Video Call feature, our CEO jokingly said, ‘Why don’t we have Lily do the earnings call for us?’” Belevan shared. What started as a lighthearted suggestion quickly turned into a creative experiment that showcased Duolingo’s innovative spirit.

The team carefully scripted Lily’s participation to highlight her personality without overshadowing the key financial updates. “We wrote her lines in a way that kept it light and fun—she’s a snarky teenager—but didn’t distract from the main points,” Belevan explained. The result was a memorable call that earned praise from analysts and investors alike.

The key learning: Creativity can make your IR efforts stand out, but it needs to align with your core message. Experiments like this work best when they enhance your communication, not detract from it.

How Duolingo Collaborates with Design, Marketing, and PR

At Duolingo, collaboration starts with shared ownership of the process. The IR team works closely with in-house designers to create visually appealing materials that reflect the company’s brand. “Our design team has been involved since the IPO,” Belevan explained. We use collaborative tools like Workiva to design and edit shareholder letters and reports, ensuring high-quality results without overcomplicating workflows.

Marketing and PR teams also play a role. Whether it’s incorporating key product updates or crafting messaging for an earnings call, every team contributes to delivering clear, cohesive materials. For example, Duolingo used their shareholder letter to highlight a playful April Fool’s campaign alongside their quarterly results. This alignment ensures investors see the full picture—not just the numbers.

Why Cross-Functional Collaboration Matters

The way companies communicate with investors has changed. Today’s investors expect materials that are clear, visually engaging, and easy to understand.

Collaboration helps meet these expectations, even for teams with limited resources. Duolingo’s design team creates templates that the IR team can reuse each quarter, saving time while maintaining quality. This scalable approach is especially valuable for lean IR teams.

Working across teams also ensures consistency in messaging. Marketing, PR, and design align with IR to highlight the company’s goals and achievements in a unified way. This creates stronger connections with investors and reinforces trust.

How IROs Can Apply Duolingo’s Approach

Here are a few lessons that IROs and financial communications teams can take away from Duolingo’s collaborative model:

1. Involve Creative Teams: Partner with design and marketing to elevate the quality of IR materials. Shared workflows and templates can streamline production and improve results.

2. Use Scalable Tools: Platforms like Google Slides or Workiva make it easier to create professional-grade materials without adding unnecessary complexity. Within these tools, IR teams can self-edit copy and other elements without needing to start designs from scratch.

3. Prioritize Simplicity and Design: Clean layouts, clear headings, and concise language make IR materials more effective. These small details help investors focus on what matters.

4. Highlight Stories, Not Just Numbers: Collaborate with marketing to include product updates or milestones that complement financial results. This gives investors a more complete understanding of the business.

5. Encourage Collaboration: Build a culture where teams are ready to contribute during key moments, like earnings calls. Belevan described how Duolingo’s teams step up when needed, saying, “Everyone takes earnings seriously here.”

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Duolingo’s approach to investor relations shows that collaboration across teams is a smart way to work. By leveraging internal resources and focusing on clear communication, they’ve built an efficient system that delivers results. For IROs, the takeaway is simple: better collaboration leads to stronger materials and more engaged investors.

Stakeholder Labs is proud to support this transformation, offering platforms and insights that empower companies to connect authentically with their most important stakeholders. Contact us to learn more.

In 2024, After Earnings, the show we co-produce with Morning Brew, highlighted a pivotal shift in investor communication: top executives from companies like Salesforce, Shopify, and Pfizer turned to emerging digital formats to connect with investors.

In a standout moment, Salesforce CEO Marc Benioff joined the show following the company’s third quarter fiscal 2025 earnings results, sharing his vision for AI innovation through Salesforce’s AgentForce and plans to collaborate with the incoming U.S. administration. By using this platform, Benioff exemplified a growing trend—leaders choosing direct, candid digital conversations to complement traditional earnings formats.

As we look to 2025, IR and corporate communications teams are recognizing the value of these formats. Podcasts, video updates, and social media outreach are becoming essential tools to meet modern investors’ expectations for transparency and competence. These approaches are more than just storytelling—they’re shaping the future of IR by prioritizing authenticity, reach, and relevance.

2024 Look-back: After Earnings Spotlights Leadership Transparency

This year, After Earnings became a prime example of how public company leaders are embracing digital platforms. Leaders like Salesforce CEO Marc Benioff and Shopify President Harley Finkelstein used the show to address pressing topics such as AI innovation, strategic growth, and cultural values. Benioff’s post-earnings discussion on AgentForce and collaboration with the incoming administration resonated with both institutional and retail investors, showcasing a personal yet forward-thinking approach to communication.

After Earnings provides a platform for relatable, candid storytelling. These interviews go beyond numbers, diving into the values and strategies that shape companies’ futures. Short-form clips from episodes see millions of impressions across platforms like LinkedIn, YouTube, and X, demonstrating the demand for accessible and engaging content that bridges the gap between leaders and investors.

Executives Embrace Digital-First IR Trends

The popularity of After Earnings reflects a larger movement toward digital-first investor engagement. Leaders are leaning into formats like podcasts, social media posts, and short-form videos to connect directly with investors. These methods enable executives to keep investors informed while conveying trust and transparency—qualities that retail and institutional investors rank among the most critical factors when evaluating companies.

As investors turn increasingly to digital platforms for information, IR teams are adapting their strategies to include:

• Expanded digital channels: Engaging audiences where they spend their time, from social media to podcasts.

• Real-time communication: Using video and audio updates to provide instant, accessible insights into financial results and strategic plans.

• Data-backed decision-making: Leveraging analytics, including social media monitoring, to measure the impact of digital content and optimize future messaging,

How IR Teams Can Lead in 2025

Looking ahead, companies that prioritize digital communication strategies will be best positioned to build lasting relationships with their investors. Here’s how IR teams can take inspiration from After Earnings:

1. Leverage Digital Storytelling: Encourage CEOs and CFOs to participate in podcasts or create video updates. These formats humanize leaders, making them relatable and transparent to a wide audience.

2. Enhance IR Portals: Modern IR websites should go beyond static reports, integrating rich media, interactive tools, and real-time updates that cater to both retail and institutional investors. (Stakeholder Labs’ IR site builder makes it easy to create interactive, drag-and-drop experiences with embedded shareholder verification.)

3. Utilize Short-Form Social Content & Creators: Use social media to share bite-sized highlights from earnings calls or executive interviews. These clips can help companies reach broader audiences, especially younger investors.

4. Foster Executive Authenticity: Equip leaders with tools and strategies to deliver clear, relatable messages while maintaining a professional tone. Personal anecdotes and insights can be powerful trust builders. For example, on an episode of After Earnings, Life360’s CEO opened the conversation by sharing his go-to coffee preference: 7-Eleven.

5. Track Engagement Metrics: Use analytics to understand what content resonates most with investors. This data can guide IR teams in refining their messaging and choosing the right platforms for outreach.

In 2024, After Earnings demonstrated how digital formats are reshaping the way companies communicate with investors. By leaning into these approaches, leaders like Marc Benioff are not only delivering financial updates—they are also breaking down important strategies in accessible and engaging ways.

As CFOs, IROs, and corporate communications teams prepare for 2025, the focus will be on refining these tools and tactics to meet evolving investor expectations.

Stakeholder Labs is proud to support this transformation, offering platforms and insights that empower companies to connect authentically with their most important stakeholders. Contact us to learn more.

According to IR Magazine’s Global Investor Relations Practice Report, 75% of IR teams now report directly to CFOs, and companies report spending 20% more time on IR-related activities this year vs. one year ago.

Today’s CFOs are balancing strategy, technology, and transparency to build trust and engagement with investors. Here’s a look at what’s changing and why it matters.

How the CFO’s Role Is Expanding

CFOs have become key players in shaping investor communication. Most IR teams now report directly to CFOs—in concert with corp comms and marketing—to ensure alignment between financial strategies and the company’s narrative. This approach builds trust with investors and stakeholders alike​.

IR Magazine’s research supports the idea that IR is becoming a more interconnected and strategic function within organizations. In North America, senior leaders are devoting an average of 54 days annually to IR, up from 45 days last year. 

The requirements of the CFO role and the digitization of the investor ecosystem are transforming how CFOs approach technology, specifically AI. According to a survey by FT Longitude, 78% of senior finance leaders plan to increase their investment in AI over the next 12 to 18 months. 

This shift reflects the growing reliance on AI for tasks such as anticipating investor questions, refining messaging, and analyzing sentiment. Companies like Skechers and Ciena are already leveraging AI to ensure their communications resonate with stakeholders while improving efficiency, per Wall Street Journal reporting.

In addition to enhancing processes, AI has enabled 75% of finance leaders to shift focus from administrative tasks to more strategic activities, showing its potential to free up resources for higher-value work. However, CFOs also face challenges, including proving ROI quickly—48% say that investments must deliver measurable returns within a year to justify further spending, according to the report. Despite these hurdles, AI remains a priority for driving innovation and aligning with the demands of a digitized, data-driven investor environment.

What’s driving the change?

Investor expectations are higher than ever. Next-gen investors, both retail and institutional, expect transparency and direct communication. They want easy access to updates via platforms like social media, podcasts, and interactive content​​.

For CFOs, this means stepping into more visible roles. Investors aren’t just focused on results—they want to understand the strategy and decisions behind them. By being authentic and clear, CFOs can build stronger relationships and trust.

AI plays a key role in meeting these expectations. It enables faster insights, better messaging, and more meaningful connections. By integrating more sophisticated technologies into IR, CFOs stay ahead of trends and provide the transparency investors value​.

What CFOs can do to succeed

CFOs are stepping into an increasingly dynamic role that combines financial expertise, strategic communication, and technological innovation. Here are some key points to consider:

Embrace emerging tech for communication and insights

New technologies like AI, analytics, creative platforms, and distribution tools are changing the way CFOs communicate with investors. These tools help craft clear, engaging messages that align with your company’s goals and connect with your audience.

Emerging tech also makes it easier to share updates across channels like social media and investor portals, ensuring your message reaches the right people. At the same time, analytics tools give you insights into shareholder feedback, engagement, and sentiment, helping you adjust and improve your approach.

By using these tools, CFOs can simplify complex information, track what’s working, and refine their messaging. In today’s fast-paced environment, embracing tech is key to keeping investors informed and strengthening those relationships.

Consider both sides of the AI equation

AI isn’t just a tool for improving IR workflows—it’s also something investors use to research companies. For CFOs, this means thinking about how your company uses these tools and how your audience relies on them to gather insights.

• As a Tool for Creating Content: AI can help refine and align your communications. Use it to check for clarity and ensure your messaging is on-brand and matches your company’s tone of voice. AI can analyze the overall tone—whether it feels optimistic, neutral, or overly cautious—and suggest adjustments. It can also evaluate the strength of your language, recommending words that convey confidence and impact. Beyond that, AI can help identify language that resonates with your audience by tying your messaging back to how investors are discussing your company online or in other channels. These insights ensure that your content connects effectively with the people it’s meant to reach.

• As a Tool for Consuming Content: Investors are increasingly using AI tools to research companies. It’s essential to ensure that the content on your website, press releases, and other digital touch-points is structured in a way that’s easy for generative AI tools to process and deliver accurately. By doing this, you can make sure that investors are accessing consistent, relevant information.

Build a unified digital investor marketing strategy

CFOs should actively engage with teams across their organizations to amplify the impact of investor communications. This means working closely with corporate communications to ensure alignment and nurturing relationships with internal marketing teams to bring financial narratives to life on digital channels. Collaborate with IT and analytics teams to capture insights on IR website traffic and investor behavior (tools from Stakeholder Labs make this easy). Tapping into these existing resources can help CFOs optimize messaging, improve digital reach, and maximize the tools their companies already have in place.

Bringing together people, technology, and strategy will help CFOs lead with agility and impact and the public markets continue to evolve.

Stakeholder Labs builds tools for modern organizations that want to up level their shareholder analytics and engagement to support long-term growth. Contact us to learn more.

Here are the key trends shaping earnings season, with examples from brands like Cava, e.l.f. Beauty, Blade and Udemy—plus, actionable takeaways you can start applying to your strategy next quarter. 

Social Platforms Are Reaching More Investors Than Ever  

Companies are sharing their earnings updates on platforms like LinkedIn and X, engaging far larger audiences than traditional earnings calls ever could. These quick, shareable posts make it easy for retail and institutional investors alike to stay informed. Instead of a few hundred people tuning into a live call, tens of thousands are seeing these updates, making them an essential part of any IR strategy.  

Shopify: Scaling Reach via Executive Handles

In this example, Shopify President Harley Finkelstein shares his breakdown of earnings to his sizable following on X. Within 3 hours, the video amassed 40K views. For comparison, the average earnings call attendance for a large cap is about 750.

Pandora: Video Q&A with CEO

Via Pandora on LinkedIn

Direct Shareholder Q&A Builds Deeper Connections

Engaging directly with shareholder questions is becoming a go-to strategy for fostering transparency and trust. Platforms like Say Technologies and Stakeholder Labs allow companies to collect and answer questions during earnings calls, making the process interactive and inclusive. 

Blade: Investor Q&A 

Blade Air Mobility is one of many companies that are incorporating shareholder Q&As into their earnings calls. 

But this approach isn’t limited to text-based formats—companies like Affirm are taking it further. Following their earnings call, Affirm COO and CFO Michael Linford appeared on the After Earnings podcast to address shareholder questions in detail, offering thoughtful insights and a deeper dive than the call allowed. These formats provide valuable opportunities to connect with investors in meaningful ways.

Affirm: Podcast Q&A

Visuals Are Making Financial Data Easier to Digest  

There’s a time and place for scrolling through dense financial reports. But sometimes, investors want to view a digestible summary that makes the numbers easier to navigate. That’s why companies are turning to visuals—like infographics, charts, and videos—to tell a clear story. Not only do these visuals make the information easier to understand, but they’re also more likely to be shared, helping companies reach a wider audience organically.  

Spotify: Earnings Infographic

elf Beauty: LinkedIn Video Summary

Via elf Beauty on LinkedIn

Cava: LinkedIn Summary and Infographic

Creativity Is Winning Attention During Earnings Calls  

Some companies are taking bold steps to stand out. Duolingo’s decision to have its AI assistant present part of their earnings call is a great example. It was fun, it highlighted their technology, and it left a lasting impression—especially after a strong quarter. These creative approaches break the mold and keep investors engaged.  

One caveat: Context matters. Duolingo had a strong financial performance and the perfect feature to make their earnings call work. Creative ideas should be deployed strategically and in the right context, so not as to detract from the content of your report.

Duolingo: AI Assistant Cameo

Leaders Are Showing Their Human Side  

Investors want to connect with the people behind the business. That’s why leaders like Robinhood CEO Vlad Tenev are adopting more personal approaches, like selfie-style updates. These casual, direct messages make leaders feel more relatable, building trust and transparency in a way that resonates with modern investors.  

Robinhood: Vlad Tenev’s Earnings Recap

Via Robinhood on X

The extent your executives show their human side will vary by industry, company, and executive. For example, companies with eccentric founders may find ways to use their executive personalities as an advantage, as is the case with Palantir’s Alex Karp. Always animated, Karp made headlines by dropping an extremely quotable line during their last earnings call. 

Palantir: Candid Commentary

IROs Are Stepping Into the Spotlight  

IROs are moving beyond the background and becoming more visible. Whether they’re recording video updates or sharing insights on social media, IROs are helping tell their company’s story in a more personal and impactful way. This shift shows just how important storytelling has become in IR.  

Moderna: IR Insights Series with Lavina Talukdar, SVP of Investor Relations

Via Moderna on LinkedIn

Podcasts Are Adding Depth to the Earnings Story  

More executives are embracing podcasts as a way to go deeper into their earnings results. Unlike a short call or a press release, podcasts offer a chance to break down complex strategies, share personal insights, and connect with investors on a more human level. The Zoetis CFO’s recent appearance on After Earnings, the show we co-produce with Morning Brew, is a great example of how this format can reach new audiences.  

Zoetis: Long-Form Earnings Conversation

These trends highlight how companies are modernizing their approach to investor communications, making their stories more engaging, accessible, and impactful.

Next Steps: Checklist for IROs

1. Harness Design and Marketing Teams for Impact

Provide internal teams with style guides and references to craft compelling visuals for IR communications. Clearly outline metrics to highlight and intended channels for distribution. 

Here’s a simple brief template to use:

• Audience: [Describe who you are speaking to; this may include sub-audiences]

• Overarching messaging goal: [Describe what you want audience to walk away knowing or understanding]

• Key points: [Key metrics, data points, and other facts]

  • X

  • X

  • X

• Channels: [Indicate where content will be distributed, e.g. LinkedIn or X]

• Visual references: [Include example layouts for directional guidance]

2. Plan Podcast Partnerships Early

Identify potential podcast opportunities well ahead of earnings. Building relationships with producers ensures timely scheduling, aligning releases with your communication strategy. Remember that unlike typical media relations efforts, podcasts are often scheduled weeks, if not months, in advance.

3. Measure ROI of Digital IR Efforts

Analyze engagement metrics for various formats to identify what resonates most with your audience. For instance, compare the reach of LinkedIn carousels to summary posts to justify design resource allocation. Understand how many impressions video assets are generating relative to earnings call streams so you can use the data to make the case for additional creative support.

See also: A Framework for Expanding IR Metrics

4. Design Layered Communications Plans

Segment post-earnings content by role—CEO for strategic highlights, CFO for financial depth, and IRO for direct engagement. This layered approach amplifies messaging while catering to varied investor preferences.

5. Consider How Tech Can Automate and Amplify Efforts

Explore tools that can streamline labor-intensive IR tasks. For example, Stakeholder Labs can help companies to transform earnings transcripts into discoverable FAQs. These FAQs can then be added to IR websites, ensuring information is timely and relevant for investors using Gen AI tools. Leveraging such technology allows small teams to maximize efficiency while maintaining high-quality communications.

Stakeholder Labs specializes in helping companies build and scale proactive shareholder engagement strategies. Contact us to learn how we can help you safeguard your company’s future by cultivating a loyal, informed investor base.

Financial creators, also known as “finfluencers,” have gained significant traction in the world of investor relations and financial communications. These creators are individuals, often found on platforms like YouTube, TikTok, Reddit, and Instagram, who provide insights, analysis, and updates on financial markets. 

Notably, the role and impact of these creators have evolved since the retail investor boom of 2021. In parallel, the way companies and investor relations teams engage with them has shifted dramatically.

We recently talked to IR Magazine about this trend, and you can listen to the full podcast here.

This post explores the transformation of financial creators, why they matter to modern investors—especially Gen Z and millennials—the innovative formats like the After Earnings show, the rise of executive branding, and how IR teams can leverage these trends.

Financial Creators: Then and Now

In 2021, the rise of finfluencers was characterized by a boom in online trading advice, particularly through TikTok and YouTube. Many of these creators offered quick tips and market speculation, which ranged from helpful to dangerously misleading. But the volatility in 2022 served as a wake-up call. The financial market’s ups and downs filtered out unreliable voices and elevated the experts, transforming the space. Today, quality content has taken center stage, and creators like Kyla Scanlon and Austin Hankwitz, who provide thoughtful, macroeconomic analysis, are leading the pack.

It’s also important to distinguish between two primary types of financial creators: those focused on trading and those focused on markets analysis.

• Trading creators focus on short-term trading, using charts, technical indicators, and news to react quickly. They often cater to audiences interested in fast-paced updates.

• On the other hand, investing creators provide broader market perspectives, focusing on long-term strategies and the fundamentals of companies. These creators are more likely to engage in in-depth analysis and interview executives, helping retail investors better understand the businesses they invest in.

The Growing Relevance of Creators for IR

Financial creators have become increasingly relevant in IR due to shifts in the investment landscape, particularly among Gen Z and millennials. Unlike previous generations who turned to traditional media like CNBC or The Wall Street Journal (which, of course, are still important), these younger investors prefer content that’s accessible and integrated into their daily digital lives. They consume financial news on platforms such as TikTok, Reddit, and Instagram, where information is presented in shorter, engaging formats.

Some may assume that this trend is specific to reaching retail investors, but data shows that institutional investors are also getting information from a range of channels ranging from email newsletters to podcasts.

The retail investor base is not only growing but diversifying. Investors are seeking out greater transparency and authenticity from the companies they invest in. They no longer rely solely on quarterly earnings calls, written press releases, or shareholder letters; instead, they seek interactive and visual content that helps them grasp the implications of corporate performance. This shift has made financial creators a critical channel for reaching and engaging with these new investors.

See also: The Art of an Effective Shareholder Letter: Turning Numbers into Narratives

Inside the After Earnings Show

These trends are what led us to partner with Morning Brew to launch the After Earnings podcast earlier this year. The show caters to both retail and institutional investors. Unlike traditional formats, After Earnings goes beyond the numbers. It dives into the nuances behind corporate earnings, offering listeners a more comprehensive understanding of the metrics and strategies that define a company’s success. The goal is to demystify earnings and provide valuable insights in a way that feels both engaging and authentic.

The podcast is particularly notable for its focus on long-form storytelling. Instead of the standard Q&A format, it invites executives—often CFOs and CEOs—to share their journeys, discuss challenges, and explain their strategies in a relatable, conversational manner. For instance, a CFO might reveal what it’s like to step into such a high-stakes role. This humanizes corporate leadership, giving investors a more rounded perspective of the people steering the company.

By providing a platform for executives to open up, the After Earnings show creates a stronger bond between companies and investors. The show taps into the demand for more personal and transparent communication and helps investors gain more insight into the organizations holistically, from earnings takeaways to new strategies and even company culture.

The Rise of Executive Branding

As the podcast demonstrates, executives are not just figures behind a podium—they’re becoming creators themselves. Companies like Spotify and Robinhood are leveraging this trend. Spotify’s CEO, Daniel Ek, uses Instagram to post video updates post-earnings, giving a personal recap of the company’s results. Robinhood’s CEO, Vlad Tenev, appears in polished studio videos to break down financial highlights. These approaches show that executives understand the power of putting a face to the brand.

See also: IROs Flexing New Muscles this Earnings Season: Spotify, Chipotle, Unilever and More

Executive branding is becoming increasingly important because today’s investors want to know the people behind the numbers. They look for signals of competence, transparency, and vision. Executives who excel at communicating in a personable and informative way can build trust with their audience, which can be a valuable asset for companies trying to attract and retain retail investors. This shift is not limited to CEOs; CFOs are also stepping up, appearing on platforms like After Earnings to share their expertise and offer insights directly to investors.

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How IR Teams Should Engage with Creators

Given these trends, IR teams are rethinking their strategies when engaging with financial creators. Instead of seeing creators as simply influencers for hire, IR teams should view them as partners who offer valuable platforms for authentic storytelling and engagement. However, collaboration should be handled thoughtfully:

1. Authentic Engagement: Investors today are more savvy and discerning. They often avoid content that feels forced or misleading. Thus, IR teams should focus on collaborating with creators who already align with their brand values. Inviting creators to experience company events, like a product launch or facility tour, provides authentic experiences they can share with their audiences without seeming overly promotional.

2. Leverage Social Listening: Companies can use social listening tools to identify and track influential voices who discuss their brand or industry. Understanding these conversations enables IR teams to engage directly with creators who already have an organic interest in their business.

3. Expand Executive Presence: Encourage company executives to establish their own digital presence. Whether through LinkedIn posts, podcasts, or Instagram videos, executives should become comfortable sharing insights and updates directly with investors. This approach fosters transparency and gives companies control over their narrative.

4. Be Selective with Collaborations: Not all creators will be the right fit. Companies should vet potential partnerships carefully, focusing on creators who maintain credibility and have a track record of responsible, informative content. Long-term relationships built on trust and authenticity will yield better results than one-off promotions.

Key Takeaways

• Financial creators have matured since 2021, becoming key players in investor education and IR strategies, particularly for reaching Gen Z and millennial investors.

• Platforms like the After Earnings show illustrate how innovative content can engage investors beyond traditional formats.

• Executive branding is gaining importance, with leaders becoming creators themselves to connect with investors on a more personal level.

• IR teams should prioritize authentic collaborations and leverage social listening to engage effectively with financial creators, ensuring long-term credibility and engagement.

By embracing these changes, companies can better navigate the evolving investor landscape and build stronger, more transparent relationships with retail investors.

Stakeholder Labs specializes in helping companies build and scale proactive shareholder engagement strategies. Contact us to learn how we can help you safeguard your company’s future by cultivating a loyal, informed investor base.

Stakeholder Labs is proud to re-introduce Marketopolis (fka Roundtable Roundup), a dedicated hub for professionals at the intersection of investor relations, corporate governance, and investor marketing.

The previous moniker—Roundtable Roundup—represented the idea of a table that all investors and stakeholders are seated around. This analogy was a bit simplistic and doesn’t account for the dynamics of today’s complex markets. Today’s markets are closer to a large, thriving city (hence “opolis”) that is growing and evolving in complexity each day.

Our goal is simple: provide actionable strategies and fresh perspectives to help executives, IROs, and governance professionals keep pace with the changing dynamics of shareholder engagement. 

As digital tools, investor activism, and new communication platforms continue to evolve, Marketopolis will offer timely, relevant insights to help you make informed decisions that drive long-term value for your company and stakeholders.

About Marketopolis

Marketopolis is a digital publication created for executives, investor relations officers, corporate comms teams, and professionals working in governance and investor marketing. It focuses on the convergence of these areas, providing practical advice, case studies, and expert perspectives to help you navigate the rapidly evolving world of investor relations.

In the wake of significant shifts in the investment landscape, IROs and corporate leaders are facing unprecedented challenges. Activist campaigns are becoming more frequent and sophisticated. Retail investors, buoyed by accessible trading platforms, are playing a more influential role. At the same time, institutional investors continue to demand long-term sustainability and corporate transparency.

To stay ahead, companies need more than reactive strategies—they need forward-looking insights into shareholder engagement trends, digital tools, and innovative approaches to corporate governance. That’s where Marketopolis steps in. We provide executives and IROs with a roadmap to navigate these challenges with confidence, offering a blend of modern strategies and future-oriented thinking.

Navigating the New Normal

Investor relations have changed dramatically over the last few years. Traditional quarterly earnings reports and annual meetings alone are no longer enough. Both institutional and retail investors now expect more frequent, transparent communication—and they want it through channels they trust.

Digital platforms, from social media to specialized IR apps, are reshaping how investors and companies interact. For companies, this opens new opportunities for building shareholder trust. But it also introduces new risks—miscommunication, reputation management challenges, or missing the chance to engage meaningfully.

On top of this, generational shifts are affecting how investors approach corporate engagement. Younger investors, especially millennials and Gen Z, increasingly prioritize ESG factors and demand clearer insights about sustainability efforts. To engage these groups, companies must be more transparent, socially responsible, and digitally savvy in their communications.

For executives and IROs, this evolution can no longer be sidelined. Investor relations and corporate governance need to be integrated and treated as strategic priorities, not afterthoughts. Companies that embrace this shift will be better positioned to build lasting relationships with investors and stakeholders alike. Through expert analysis, strategic insights, and practical advice, Marketopolis will show you how to lead this transformation.

What to Expect

Our goal is to offer a blend of tactical advice and strategic insights, arming you with the data, information, and insights you need to lead within your organization.

Some of the key areas we’ll explore:

• Digital IR Strategy: Learn how to leverage digital tools to strengthen shareholder relationships and build transparency.

• Investor Marketing: Explore how to align your investor messaging with broader marketing efforts to strengthen brand perception and investor confidence.

• Shareholder Engagement: Discover fresh approaches for engaging with both retail and institutional investors that build trust and long-term loyalty.

• Corporate Governance Trends: Stay up to date with the latest trends in governance and ESG metrics, and understand their impact on investor relations.

• Activist Defense Tactics: Find practical guidance on anticipating and responding to activist campaigns.

The dynamics of investor relations are evolving fast, and Marketopolis is your resource for staying informed and proactive. Subscribe today and start receiving actionable insights straight to your inbox. 

Subscribe now

Contact Stakeholder Labs to learn more and join the conversation on transforming your investor relations and marketing strategies for the digital age.

A big topic covered was risk, and specifically the potential risks companies envision when they think of more active investor involvement in things like shareholder meetings, proposals, and voting. Panelists noted that companies are increasingly seeing a risk in not engaging with shareholders from a corporate governance standpoint. Disney, for example, paid tens of millions of dollars as part of its recent proxy fight. More than CEO Bob Iger’s total annual compensation.

Activist campaigns are becoming more common, and CFOs are increasingly looking for ways to minimize the financial and reputational risks that these campaigns pose. Two decades ago there were 20 activist campaigns per year. That figure is now 1,000 per year. In fact, new data from Bain found that 25% of CFOs expect their company to be the target of an activist investor campaign in the next two years.

In these cases, many companies scramble to spend millions of dollars in defense, especially during proxy battles that can disrupt strategic direction, leadership, or even corporate control. However, waiting until an activist campaign is underway is also not ideal. Proactively engaging shareholders before any pressure mounts is a more effective, long-term strategy.

Proactively Preparing for Activist Investor Campaigns

What are activist investor campaigns?

Activist campaigns are initiated by shareholders, typically institutional investors or hedge funds, seeking changes within a company to unlock greater value. These campaigns often focus on altering corporate strategy, leadership, governance, or even capital allocation. They might push for a board seat, advocate for significant restructuring, or demand the sale of certain assets. While these campaigns can sometimes improve governance or performance, they can also derail long-term strategies, leading to costly proxy battles and instability.

For CFOs and investor relations teams, these campaigns represent not only a financial threat but also a reputational and operational one. Companies can spend millions defending themselves, and even if they win the battle, the distraction can damage focus on long-term goals. 

As these campaigns rise in number and aggressiveness, more companies are realizing the importance of proactive defense, primarily through robust shareholder engagement. That said, less than 50% of CFOs surveyed by Bain said they have activist defense tactics in place.

Why should CFOs and IR teams invest in proactive shareholder engagement?

Activist investor plans, of course, involve a lot more than just direct shareholder engagement; however, for companies with strong retail investor bases, this could form a crucial component to the game plan.

Historically, many firms engaged their shareholders only when absolutely necessary—often after the first signs of an activist campaign appeared. However, in the current environment, this is a risky approach. Once an activist campaign is underway, companies may be forced to spend millions of dollars on legal fees, consulting firms, and public relations efforts, not to mention the disruption to business continuity.

By contrast, launching a proactive investor relations strategy helps companies mitigate these risks before they escalate. Engaged and informed shareholders are more likely to support management’s vision when an activist challenge arises. And as University of Pennsylvania law professor Jill Fisch pointed out at the Fordham event, retail investors tend to vote with management.

Regular communication, especially when transparent and detailed, fosters trust and builds a loyal shareholder base. Moreover, a company that has consistently communicated its strategy, financials, and decision-making rationale will have an easier time countering any activist’s narrative. Shareholders will be less likely to be swayed by outside pressures if they already understand and support the company's long-term strategy.

Proactive engagement doesn’t just reduce the likelihood of an activist campaign—it also positions the company more favorably in the event that one arises. Activist investors tend to target companies with weak investor communication, where they can exploit gaps in shareholder understanding or dissatisfaction.

As Bain points out, the best way to fend off activist investors is to “think like them,” and this might involve making changes to how the company is operated and also how those changes (and their benefits) are communicated back to shareholders.

How can companies proactively engage shareholders to mitigate activist campaigns?

Building a successful investor engagement strategy is not a one-time initiative but rather an ongoing effort that begins early and scales over time. 

Here’s how CFOs and IR teams can get started.

Start Early – Even Before IPO 

Companies can lay the groundwork for effective shareholder engagement well before they go public. For IPO-stage firms, setting the tone with transparency and open communication from the beginning helps attract long-term, engaged investors. At this stage, the goal is to foster relationships with shareholders who align with the company's long-term strategy.

See also: From Private to Public: How Retail Investors Are Reshaping the Investor Relations Lifecycle of Pre-IPO Companies.

Tailor Communication to Key Stakeholders

Investor communication shouldn’t be one-size-fits-all. Instead, segment your shareholders based on their priorities, investment horizons, and influence. Institutional investors, retail investors, and proxy advisors all have different motivations and concerns. Tailored communication ensures that each group feels heard and valued. 

Using segmentation to your advantage hinges on having access to the data, thanks to technology there are new tools that make it possible for institutional and retail shareholders to directly authenticate on your IR page via LinkedIn or via brokerage confirmation. 

Maintain Consistent, Transparent Reporting

Regular, transparent financial and strategic updates are crucial. Quarterly earnings reports should go beyond the numbers, offering insights into the company’s long-term strategy, risk management, and market positioning. These communications should be as open during tough times as they are during periods of growth. 

Some companies have evolved their cadence of communication, sharing monthly newsletters that recap any corporate-related news and press releases, in addition to product news and announcements, personnel updates, and other media coverage.

See also: The Art of an Effective Shareholder Letter: Turning Numbers into Narratives.

Upgrade Your Design to Improve Your Storytelling

Part of ongoing and transparent communications is about the medium and not the message. That’s why companies are investing in simplified, well-designed IR websites and materials that incorporate rich media like videos, and why they are delivering shareholder letters as designed PDFs or microsites. Whether institutional or retail, your investors are accustomed to easy-to-consume digital experiences, and your IR website and materials are no different.

By way of proxy design specifically, Broadridge just released some fresh best practices in their 2025 Proxy Design Handbook, which include:

• Creating clean, well-designed materials that simplify the complex

• Using visuals as a key component in your storytelling

• Focusing on the audience and how they will read and perceive your content

Educate and Align Investor Base

It’s important to invest time in educating shareholders about the company's mission, values, and long-term goals. Engaged, well-informed investors are less likely to be swayed by short-term activist demands that contradict the company's broader objectives. Consider hosting regular investor days, releasing detailed annual reports, and offering open lines of communication to foster a stronger connection between the company and its shareholders.

Monitor Shareholder Sentiment

Regularly assess shareholder sentiment using both qualitative and quantitative tools. This allows you to detect potential dissatisfaction early on and adjust your strategy accordingly. Leveraging surveys, social media monitoring, and feedback from key investors can provide early warning signs that help prevent activist campaigns before they start.

Build a Response Team

Even with the best preparation, activist campaigns can still arise. Having a dedicated response team—comprising legal, financial, public relations, and digital media experts—ready to act is crucial. This team can quickly address activist demands, engage with shareholders, and present a cohesive counter-narrative.

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No company can completely avoid the risk of an activist investor campaign, but those that invest in a proactive shareholder engagement strategy are far more likely to emerge unscathed. By starting early, communicating consistently, and fostering trust, companies can create a loyal investor base that supports long-term success over reactionary short-term fixes.

Stakeholder Labs specializes in helping companies build and scale proactive shareholder engagement strategies. Contact us to learn how we can help you safeguard your company’s future by cultivating a loyal, informed investor base.

FAQ sections aren’t new, but in an AI-driven world, they’re more critical than ever. Both investors and AI tools need quick access to reliable, up-to-date information. Let’s break down why FAQs are becoming a must-have and how you can make sure your company’s page stands out.

The Rise of AI in Stock Research

Investors are turning to AI to accelerate and broaden their research. Large-language models (LLMs) can process massive amounts of data and deliver insights on everything from stock trends to financial health. Investors want quick, real-time access to data that helps them make decisions. Transparency is more important than ever, and companies need to make sure the information they provide is clear, consistent, and easy for both people and AI to understand.

Why FAQs Matter in an AI-Driven World

So, why should IR teams invest in a robust FAQ section? Simple—FAQs make it easier for both investors and AI tools to get the answers they need. 

On a recent episode of After Earnings, Yext CEO Mike Walwrath shared why “data as content” will continue to be an important theme for brands as GenAI proliferates. For well over a decade, Google has been the predominant search engine. GenAI platforms are causing an erosion in search share; however, with people increasingly using tools like ChatGPT, Claude, and others to get to answers fast. The implication: Companies need to ensure their foundational data (site content) is accurate, relevant, and structured in a way that AI can easily read and provide answers to people looking for information.

Easy Data Access for AI Tools

AI loves structure, and a well-organized FAQ page is pure gold. By laying out key info like stock splits, dividends, and governance policies in a clear, concise way, you’re making sure AI tools can grab the data and process it accurately.

Building Trust with Investors

Investors value transparency, and a well-structured FAQ builds trust. If an investor knows they can easily find answers to key questions—like a company’s financial health or upcoming plans—they’re more likely to have confidence in the company. 

Trust is also about ensuring information is relevant and up-to-date. Tools like Stakeholder Labs’ IR site management platform make it easy for IR teams to make fast updates to their pages on the fly. No-code tools empower IR teams to make quick edits without needing to wait for engineering support.

Supporting AI-Driven Comparisons

AI tools often compare companies side by side. A comprehensive FAQ page makes it easier for AI to pull the right data, giving investors better insights when comparing your company to others. It’s a win-win.

Faster Decisions for Investors

Investors need quick access to accurate info. FAQs give them fast answers to important questions, like when the next dividend will be paid or how your company is handling a new regulation. By providing this data upfront, you’re helping investors make decisions faster.

Best Practices for Creating and Maintaining Investor Relations FAQ Pages

Now that we’ve covered why FAQs are so important, let’s talk about how to make sure your page delivers. Here’s a quick guide:

1. Focus on the Right Questions

Look at what investors are asking the most. Pull questions from earnings calls, emails, or past shareholder meetings. Common topics like stock performance, dividends, shareholder services, and important news should be top of mind. Y

You might also use your FAQ page to educate would-be investors about your company more broadly. Where do you fit in the value chain of your category? What are the main business lines? What are your top three strategic priorities for the year or quarter?

Affirm, for example, uses its FAQ page to break down key metrics for investors.

2. Use Social Listening to Identify Gaps

Keep an ear on online conversations. Use social listening tools to monitor investor discussions in forums, social media, and financial networks. If you notice recurring questions or confusion, address them directly in your FAQ. This ensures you’re not only answering existing questions but also proactively providing clarity on hot topics.

Bonus: Social listening can also help understand where pockets of influence exist. For example, is a large shareholder breaking through with commentary on YouTube? Is there a particular publication or report that is generating buzz, positive or negative? 

3. Keep It Simple

Use clear, concise language. Avoid jargon or technical terms that might confuse investors—or AI tools. Whether it’s a person or a machine reading the FAQ, make sure your answers are easy to understand. 

In this case, GenAI can be your friend. IROs can create straightforward bullet points about the key messages they want to get across in an FAQ response, and then use AI tools to finesse the wording to make it more digestible. For example, you might share bullet points and ask an GenAI tool to write it in direct, straightforward language at a 10th grade reading level.

4. Make It Searchable

Organize your FAQ by topic (think financials, stock performance, governance) and add a search bar. Whether someone’s looking for a specific question or browsing by topic, make it easy to find the info they need. 

5. Update Regularly

FAQs aren’t “set it and forget it.” As your company grows, so should your FAQ. Update it regularly with new info, like earnings reports, stock splits, or regulatory changes. Investors (and AI tools) need the most up-to-date info, so keep it fresh.

6. Link to Detailed Resources

Sometimes a short answer won’t cut it. When the topic is more complex, link to detailed reports, earnings calls, or press releases. This gives investors and AI the option to dive deeper when needed. Include a CTA to subscribe for updates or authenticate shares within the FAQ page to drive engaged investors to connect directly.

Don’t forget to anchor a subscribe button to the FAQ page so you can connect directly with the people in the mindset of research with more frequent updates. 

Once an afterthought, well-structured FAQ pages can help ensure that information about your company that is being fed into LLMs is intelligible and accurate. A well-maintained FAQ page builds trust, supports AI-driven analysis, and helps investors make informed decisions. By following best practices for creating and updating FAQs, your company can better meet the needs of today’s investors—and tomorrow’s AI tools.

Stakeholder Labs builds tools for modern organizations that want to up level their shareholder analytics and engagement to support long-term growth. Contact us to learn more.

Investing is undergoing a major transformation. Once the exclusive domain of institutional investors and the ultra-wealthy, it’s now opening up to a wider pool of retail investors. This shift is particularly noticeable in the pre-IPO space, where advances in technology and regulatory changes are allowing individual investors to enter the market earlier. 

The World Economic Forum notes that interest in private market investing is on the rise, with individual investors particularly viewing these opportunities as a way to diversify their portfolios. Citing data from Moonfare, a private equity investing platform, the WEF cites that individual investors continue to build their portfolio allocations in these areas.

Source: World Economic Forum

In response to growing interest in the private markets, pre-IPO companies are adjusting their investor relations strategies to engage this growing investor segment earlier in their lifecycle.

The Rise of Pre-IPO Access for Retail Investors

In the past, investing in pre-IPO companies was reserved for accredited investors, defined as individuals with a net worth exceeding $1 million or an annual income of $200,000. The number of accredited investors continues to rise, with more than 24 million U.S. households now meeting the criteria needed to invest in private companies—reaching all-time highs in 2024.  

A key driver of this momentum has been legislative changes, such as the JOBS Act, which became law in 2016, that have opened the door for more retail investors to participate in these previously inaccessible opportunities. Fintech companies have responded by innovating their products to meet the new demand.

For example, platforms like AngeList, Fundrise, Dealmaker, and Republic now allow individual investors to buy into startups, offering them access to early-stage companies that were once out of reach. Platforms like Fundrise even offer in-depth analysis and data to help inform investor diligence.

Sweater Ventures is another fintech that’s building the infrastructure needed for venture capital funds to provide access to a broader pool of investors.

This democratization of access is supported by secondary marketplaces, such as EquityZen, Hiive, and Carta (which recently sold its secondary business to investing platform Public.com). These platforms enable retail investors to buy shares in private companies from existing shareholders. Although the majority of these platforms cater to accredited investors, recent developments are expanding opportunities for retail investors to get involved.

Technology and the Democratization of Pre-IPO Investing

Technology has been a key driver in making pre-IPO investing more accessible. Platforms like AngelList and Fundrise have created streamlined processes for retail investors to research, invest in, and monitor private companies. This tech-driven transparency was once the privilege of institutional investors, but it is now available to anyone interested in learning about high-growth firms. Retail investors can track company performance, view valuations, and gain access to research tools once reserved for venture capitalists​.

Tech innovations have also lowered the barriers to entry, allowing retail investors to invest in high-growth companies through fractional shares. For example, the rise of unicorn companies has led to secondary marketplaces unlocking new opportunities for those previously excluded from this category of investing.

The Evolution of Investor Relations for Private Companies

As more retail investors gain access to pre-IPO opportunities, private companies are faced with the need to develop robust IR functions earlier in their lifecycle. Typically, public companies are required by the SEC to disclose detailed financials, but private companies have less regulatory pressure. However, in order to maintain transparency and trust with retail investors, private companies are beginning to adopt communication strategies similar to their public counterparts.

Private companies must also recognize the importance of educating these retail investors, who may not have the same level of expertise as institutional investors. Clear, frequent, and jargon-free communication is crucial. Companies are increasingly relying on investor websites, email newsletters, and social media to engage this new audience​.

Communicating with Retail Investors vs. Institutional Investors

Communicating with retail and institutional investors does not require entirely disparate strategies as one may assume. Individual investors are more educated than ever before, and rely on new platforms, data sources, and AI to conduct thorough and comprehensive research when making decisions. Moreover, the new generation of institutional investors and analysts are not unlike individual investors in their desire for clear, succinct and timely information presented in modern formats like microsites, social media updates, videos, and podcasts. 

Consider pre-IPO companies communicating with their cap tables on a weekly, monthly or quarterly basis. These updates will contain an overview of how the company is tracking against its strategic plan according to consistent KPIs, new product features, partnerships, and other developments, competitive landscape analyses and more. These same buckets of information are what pre-IPO individual investors are looking for, as well. 

And while the increased sophistication of retail investors means they, too, expect detailed financial reports and in-depth market analysis, both individual and institutional audiences can benefit from simplified and accessible updates. As a result, companies are creating more digestible content, using storytelling and clear value propositions to maintain engagement with this growing audience​.

The high-growth fintech Zilch, for example, recently shared an update on key milestones in the same style you might see from a publicly-traded company. 

Additionally, the tools and strategies for reaching retail investors have evolved. Investor portals, mobile apps, and even social media are becoming critical tools for companies looking to provide timely updates, build investor confidence, and drive stakeholder loyalty as the company continues on the journey from public to private.

Preparing for an IPO by Building a Retail Investor Base

One key benefit for private companies engaging with pre-IPO retail investors is the ability to build loyalty and excitement before going public. By communicating with this audience early, companies can create a base of committed investors who are likely to stay on after the IPO. This engagement also provides a foundation for identifying investor preferences and tailoring communication strategies accordingly.

Companies like Reddit ($RDDT), Robinhood ($HOOD), and SoFi ($SOFI) famously carved out allocations for their users ahead of the IPO. Reddit went a step further, offering access to a percentage of their most loyal, engaged, and additive members. Airbnb ($ABNB) offered pre-IPO access to its hosts before going public in 2021.

Data-driven insights can help private companies segment their investor base, offering loyalty programs or exclusive content to those who have invested early. This not only strengthens relationships but also builds momentum leading up to the IPO, ensuring that the company has a solid group of supporters as it transitions to the public market.

The average age of a company issuing an IPO is between 8 and 10 years of age, according to the California Legislative Analyst’s Office. For founders this may feel like a lifetime; however, as companies begin to enter the later stages of growth, building out an IR foundation early is becoming increasingly critical. 

Many private companies will begin to build out IR functions in parallel with late-stage funding rounds (C or D). Some companies, like Cava ($CAVA), began internally preparing earnings reports two years before it went public, according to their CEO and Co-Founder Brett Schulman who talked about their pre-IPO prep process on Stakeholder Labs’ After Earnings Podcast.

Full episode: “Cava: Innovating Fast-Casual Dining, Pushing Love Buttons, and IPO Success With CEO Brett Schulman”

Monday.com ($MNDY) CFO Eliran Glazer started in his role just four months before their IPO and said building out the company’s IR function and associated systems was a top priority.  

Full episode: “monday.com: Journey from Inception, IPO Preparation, to Future Growth with CFO Eliran Glazer”

Shifting Strategies Post-IPO

The transition from private to public brings significant changes in how companies manage investor relations. Post-IPO, companies are bound by SEC regulations that require more frequent and detailed disclosures. However, the lessons learned from communicating with pre-IPO retail investors can be invaluable. By maintaining open channels of communication and continuing to offer personalized updates, companies can keep their investor base engaged and build long-term loyalty​.

As retail investors continue to gain access to the pre-IPO market, companies that adapt their IR strategies early will be better positioned to succeed both before and after going public. By embracing transparency, leveraging technology, and fostering strong relationships with this new class of investors, private companies can create a more sustainable path to growth and long-term success.

Stakeholder Labs builds tools for modern organizations that want to up level their shareholder analytics and engagement to support long-term growth. Contact us to learn more.

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