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.