Evaluating Impact of Social Media Posts by Executives on Stock Prices

• URL: http://arxiv.org/abs/2211.01287v1
• Date: Tue, 1 Nov 2022 03:45:17 GMT
• Title: Evaluating Impact of Social Media Posts by Executives on Stock Prices
• Authors: Anubhav Sarkar, Swagata Chakraborty, Sohom Ghosh, Sudip Kumar Naskar
• Abstract summary: Social media like Twitter, Reddit have become hotspots of such influences. This paper investigates the impact of social media posts on close price prediction of stocks using Twitter and Reddit posts.
• Score: 0.5429166905724048
• License: http://creativecommons.org/licenses/by-nc-sa/4.0/
• Abstract: Predicting stock market movements has always been of great interest to investors and an active area of research. Research has proven that popularity of products is highly influenced by what people talk about. Social media like Twitter, Reddit have become hotspots of such influences. This paper investigates the impact of social media posts on close price prediction of stocks using Twitter and Reddit posts. Our objective is to integrate sentiment of social media data with historical stock data and study its effect on closing prices using time series models. We carried out rigorous experiments and deep analysis using multiple deep learning based models on different datasets to study the influence of posts by executives and general people on the close price. Experimental results on multiple stocks (Apple and Tesla) and decentralised currencies (Bitcoin and Ethereum) consistently show improvements in prediction on including social media data and greater improvements on including executive posts.

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