A0607
Title: Analyzing the impact of social media on the trading behavior of retail investors
Authors: Enrico De Giorgi - University of St Gallen (Switzerland)
Christoph Hirt - University of St Gallen (Switzerland)
Jule Schuettler - University of St.Gallen (Switzerland) [presenting]
Abstract: The purpose is to investigate the causal relationship between social media attention and retail investors trading behavior. Using data from WallstreetBets to measure social media attention and from the online brokerage Robinhood to track trading activities, a potential outcomes framework is applied to evaluate the impact of social media on investors' trading behavior. The causal estimation strategy allows for the analysis of the extent to which social media influences retail trading patterns.