The WallStreetBets Phenomenon Among Multicultural Conversations
The Reddit page r/WallStreetBets took the stock market by storm in the recent phenomenon with the $GME and $AMC stocks. The popular Reddit page shares stock tips on possible leads for the members of the page. The admin and members of the page instructed mass investments into the $GME stock with the idea to “punish short-sellers, and for the little guys to pummel Wall Street.” The situation blew up even more once the popular trading app, Robinhood, halted trading for the various stocks involved to prevent people from perpetuating the situation.
In this short study, we used the O.Y.E. social listening tool to analyze what conversations surrounded the hot topic and the Reddit takeover. We specifically looked at different multicultural groups and what they were saying in the conversation. Were they onboard to stick it to the hedge funds or did they find it to be unethical?
This analysis was extrapolated from a data set of 198,821 conversations on Twitter, of which 23,286 were from verified U.S. Hispanics and 13,245 were from verified Black Americans. All data was gathered from 01/23/2021 – 02/03/2021.