التفاصيل البيبلوغرافية
| العنوان: |
Place Your Bets? The Value of Investment Research on Reddit's Wallstreetbets. |
| المؤلفون: |
Bradley, Daniel, Hanousek, Jan, Jame, Russell, Xiao, Zicheng |
| المصدر: |
Review of Financial Studies; May2024, Vol. 37 Issue 5, p1409-1459, 51p |
| مصطلحات موضوعية: |
STOCK price forecasting, INVESTMENTS, INDIVIDUAL investors, DUE diligence, INTERNET forums, RETAIL industry |
| الشركة/الكيان: |
GAMESTOP Corp. |
| Reviews & Products: |
REDDIT (Web resource) |
| مستخلص: |
We examine the value of due diligence recommendations on Reddit's Wallstreetbets (WSB) platform. Before the Gamestop (GME) short squeeze, recommendations are significant predictors of returns and cash-flow news. This predictability is eliminated post-GME. Post-GME, the fraction of reports emphasizing price-pressure or attention-grabbing stocks dramatically increases, and the decline in informativeness is concentrated in these reports. Similarly, retail trade informativeness is particularly strong following DD reports in the pre-GME period, but not post-GME. Our findings are consistent with the view that the Gamestop event altered the culture of WSB , leading to a deterioration in investment quality that adversely affected smaller investors. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
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