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Evaluating Impact of Social Media Posts by Executives on Stock Prices

EasyChair Preprint 9215, version 2

Versions: 12history
9 pagesDate: December 6, 2022

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.

Keyphrases: Financial texts, Reddit, Sentiment Analysis, Stock Market Prediction, Twitter

BibTeX entry
BibTeX does not have the right entry for preprints. This is a hack for producing the correct reference:
@booklet{EasyChair:9215,
  author    = {Anubhav Sarkar and Swagata Chakraborty and Sohom Ghosh and Sudip Kumar Naskar},
  title     = {Evaluating Impact of Social Media Posts by Executives on Stock Prices},
  howpublished = {EasyChair Preprint 9215},
  year      = {EasyChair, 2022}}
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