NewsFactor: “Wall Street Traders Mine Tweets for Investing Clues”

A Study done by a Pace PhD candidate Arthur O’Connor which showed a correlation between stocks and social-media was mentioned in the NewsFactor article “Wall Street Traders Mine Tweets for Investing Clues”.

A Study done by a Pace PhD candidate Arthur O’Connor which showed a correlation between stocks and social-media was mentioned in the NewsFactor article “Wall Street Traders Mine Tweets for Investing Clues”. NewsFactor.com reports that the “Online surveillance of social-networking sites is emerging as a must-have tool for hedge funds, big banks, high-frequency traders and black-box investment firms that run money via computer programs.”

Excerpt from the article:

Interest in the marriage of social media and finance remains high. In March, a study done by a Ph.D. candidate at Pace University showed a positive correlation between stock price performance and the social-media “popularity” of well-known brands Starbucks, Coca-Cola and Nike. The Pace author, Arthur O’Connor, also found that brand popularity online may be a “lead indicator” of stock performance. And a team of economists at TUM School of Management, or Technical University of Munich, has created a Web site, TweetTrader.net, that attempts to profit from similar Twitter research.

Read the full article on NewsFactor.com.

1 thought on “NewsFactor: “Wall Street Traders Mine Tweets for Investing Clues””

  1. You will all remember Société Générale’s ‘rogue trader’ scandal when it broke costing the bank £3.6bn. When it came to light immediately there were questions about the impact it would have on the global financial world. The stock market went through a period of turmoil however analysts where split on whether the cause was down to the actions of the trader. The incident led onto other huge financial institutions revealing huge losses and talks of an imminent recession were talked about.

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