Year: 2024
Type: preprint
Abstract: Stock markets are impacted by a large variety of factors including news and discussions among investors about investment opportunities. With the emergence of social media, new opportunities for having financial discussions arose. The market frenzy surrounding GameStop (GME) on the Reddit subreddit Wallstreetbets, caused financial discussion forums to receive widespread attention and it was established that Wallstreetbets played a leading role in the stock market movements of GME. Here, we present a new data set for exploring the effect of social media discussion forums on the stock market. The dataset consists of posts published on various Reddit subreddits concerning the popular meme stocks GameStop (GME), American Multi-Cinema Entertainment Holdings (AMC), and BlackBerry (BB). We document the data collection and processing steps and show that the posts and comments about these meme stocks are related to their market movements.
Source: arXiv (Cornell University)
Institutions: City University of Hong Kong, University of Amsterdam
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4403324037