: This research analyses the impacts of social media on financial markets, focusing on information flow, investor behaviour, manipulation risks, investment strategies, and financial literacy. Social media facilitates access to information but also carries the potential for misinformation and manipulation. The study explores how investor behaviours are influenced in terms of herd behaviour and emotional interactions, emphasising the use of social media analytics in investment strategies and its role in financial education. The findings highlight that social media presents both opportunities and challenges in financial markets. Furthermore, an empirical survey conducted with 178 participants substantiates the real-life effects of social media on financial information acquisition and investment decisions, contributing to a deeper understanding of these dynamics.