Twitter and the US stock market: The influence of micro‑bloggers on share prices

Shutes, Karl; McGrath, Karen; Lis, Piotr; Riegler, Robert

doi:10.18559/ebr.2016.3.5

Cited by 6 publications

(2 citation statements)

References 30 publications

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“…Moreover, in [18], Twitter is used to identify and predict stock co-movement from firm-specific social media metrics. Aside from causality between Twitter and stock prices, in [32] US market tweets are studied as signs of new information in the stock market and the experiment shows that nearly a third of the tweets are linked to abnormal price movements. However, the lack of information during regular periods makes difficult that Twitter completely replace traditional information sources for the financial market.…”

Section: Related Workmentioning

confidence: 99%

The Irruption of Cryptocurrencies Into Twitter Cashtags: A Classifying Solution

2020

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There is a consensus about the good sensing characteristics of Twitter to mine and uncover knowledge in financial markets, being considered a relevant feeder for taking decisions about buying or holding stock shares and even for detecting stock manipulation. Although Twitter hashtags allow to aggregate topic-related content, a specific mechanism for financial information also exists: Cashtag (consisting of the company ticker preceded by $) is a supporting mechanism to track financial tweets referring to a company listed in a stock market. However, according to our experiments and due to the lack of conventions in cashtags usage, the irruption of cryptocurrencies has resulted in a significant degradation on the cashtag-based aggregation of posts. Unfortunately, Twitter' users may use homonym tickers to refer to cryptocurrencies and to companies in stock markets, which means that filtering by cashtag may result on both posts referring to stock companies and cryptocurrencies. This research proposes automated classifiers to distinguish conflicting cashtags and, so, their container tweets by analyzing the distinctive features of tweets referring to stock companies and cryptocurrencies. As experiment, this paper analyses the interference between cryptocurrencies and company tickers in the London Stock Exchange (LSE), specifically, companies in the main and alternative market indices FTSE-100 and AIM-100. Heuristic-based as well as supervised classifiers are proposed and their advantages and drawbacks, including their ability to self-adapt to Twitter usage changes, are discussed. The experiment confirms a significant distortion in collected data when colliding or homonym cashtags exist, i.e., the same $ acronym to refer to company tickers and cryptocurrencies. According to our results, the distinctive features of posts including cryptocurrencies or company tickers support accurate classification of colliding tweets (homonym cashtags) and Independent Models, as the most detached classifiers from training data, have the potential to be trans-applicability (in different stock markets) while retaining performance. INDEX TERMS AIM-100, cashtags, cryptocurrencies, data analysis, FTSE-100, london stock exchange, support vector machines, twitter.

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Section: Related Workmentioning

confidence: 99%

The Irruption of Cryptocurrencies Into Twitter Cashtags: A Classifying Solution

2020

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“…quarterly announcements), but similar results were observed in peaks not corresponding to any expected news about the stock market. Also, [29] used Twitter to identify and predict stock co-movement according to firm-specific social media metrics and [49] studied tweets related to US market as indicator of some (potentially new) information in the stock market rather than on evaluating the problem of causality on stock prices.The results in [49] show that nearly a third of the tweets in the study are associated with abnormal price movements so that the authors suggest that Twitter is not a replacement for traditional sources in financial market. In fact, Twitter lacks the concrete trading recommendations that are common in other financial information sources.…”

Section: Twitter As a Source For Decision Makingmentioning

confidence: 99%

Twitter permeability to financial events: an experiment towards a model for sensing irregularities

Vilas

Redondo

Crockett

et al. 2018

Multimed Tools Appl

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There is a general consensus of the good sensing and novelty characteristics of Twitter as an information media for the complex financial market. This paper investigates the permeability of Twittersphere, the total universe of Twitter users and their habits, towards relevant events in the financial market. Analysis shows that a general purpose social media is permeable to financial-specific events and establishes Twitter as a relevant feeder for taking decisions regarding the financial market and event fraudulent activities in that market. However, the provenance of contributions, their different levels of credibility and quality and even the purpose or intention behind them should to be considered and carefully contemplated if Twitter is used as a single source for decision taking. With the overall aim of this research, to deploy an architecture for real-time monitoring of irregularities in the financial market, this paper conducts a series of experiments on the level of permeability and the permeable features of Twitter in the event of one of these irregularities. To be precise, Twitter data is collected concerning an event comprising of a specific financial action on the 27th January 2017: the announcement about the merge of two companies Tesco PLC and Booker Group PLC, listed in the main market of the London Stock Exchange

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Do Cities Leverage Summits to Enhance Their Image Online? Examining the Twittersphere of the Inaugural U20 Mayoral Summit, Buenos Aires, Argentina

Insch

2020

Palgrave Macmillan Series in Global Public Diplomacy

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Twitter and the US stock market: The influence of micro‑bloggers on share prices

Cited by 6 publications

References 30 publications

The Irruption of Cryptocurrencies Into Twitter Cashtags: A Classifying Solution

The Irruption of Cryptocurrencies Into Twitter Cashtags: A Classifying Solution

Twitter permeability to financial events: an experiment towards a model for sensing irregularities

Do Cities Leverage Summits to Enhance Their Image Online? Examining the Twittersphere of the Inaugural U20 Mayoral Summit, Buenos Aires, Argentina

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