Sentiment Analysis of COVID-19 Pandemic on the Stock Market

Prajwal Eachempati (), Praveen Ranjan Srivastava and Prabin Kumar Panigrahi
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Prajwal Eachempati: Indian Institute of Management, Rohtak
Praveen Ranjan Srivastava: Indian Institute of Management, Rohtak
Prabin Kumar Panigrahi: Indian Institute of Management, Indore

American Business Review, 2021, vol. 24, issue 1, 141-165

Abstract: COVID-19 is a dreadful infectious disease, morphed into an economic crisis causing extensive and longstanding ramifications across global markets. Investors continue to hear about COVID-19 and its impact in one corner of the globe or the other for a long time. Though the effects of COVID19 started in December 2019 in Wuhan, China, global markets did not respond actively till W.H.O officially declared on March 11, 2020, that the COVID19 outbreak is a global pandemic. These multi-channel events have eroded investor sentiment, tanking the global stock markets. This article uses a machine learning approach to Twitter to analyze and follow investor sentiment that has guided the market to the new low during the first 150 days of the COVID-19 era. The only respite for recovery of financial markets is the lowering of COVID-19 infected cases for the time being till a vaccine is developed for the virus.

Keywords: COVID; Stock Market; Social Media; Machine Learning; Natural Language Processing (search for similar items in EconPapers)
Date: 2021
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