With the emergence of new media technologies, being new media literate and able to critically analyze new media information are important to young adults, a group of individuals that are particularly active on social media. However, since the development of new media literacy, no study to date examined demographic characteristics, personality factors, and social network site (SNS) use related to it. More importantly, no research examined the relationship between new media literacy and perceptions and actions related to controversial issues. These under-explored facets deter practitioners from tailoring future new media literacy curricula and identifying the targeted audience. With a survey of 551 young adults, our study revealed that media literacy practitioners should devote more attention to (a) Caucasian males with low SNS use, (b) non-Caucasian females with low SNS use, and (c) individuals with low Need for Cognition and SNS use. Our study further showed that increasing new media literacy can help reduce misperceptions induced by misinformation that is rampant in the new media environment.