Are redditors good at picking stocks? An analysis
Posted: Nov 17, 2024
- Redditors are not very good at picking stocks
- An AI tool was used to analyze sentiment in stock posts on Reddit
- 710 posts were analyzed from r/wallstreetbets and r/stocks
- 158 posts had "correct" stock picks, 171 had "wrong" picks, and 381 were neutral
- Median return for "correct" picks was ~17%, for "wrong" picks it was ~15%
- Top stock winners were AST SpaceMobile, $RKLB, $LUNR
- Biggest losses from $BCAN, $TIGR, $SMCI, $YINN, $MRNA, $TLRY, $AMC, $DJT
- Space stocks did well, random unknown stocks performed poorly
- Public spreadsheet and Github repo available for further analysis
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