“I just like the stock”: The role of Reddit sentiment in the GameStop share rally

Suwan (Cheng) Long, Brian Lucey, Ying Xie and Larisa Yarovaya

The Financial Review, 2023, vol. 58, issue 1, 19-37

Abstract: This paper investigates the role played by the social media platform Reddit in the events around the GameStop (GME) share rally in early 2021. In particular, we analyze the impact of discussions on the r/WallStreetBets subreddit on the price dynamics of the American online retailer GameStop. We customize a sentiment analysis dictionary for Reddit platform users based on the Valence Aware Dictionary and Sentiment Reasoner (VADER) sentiment analysis package and perform textual analysis on 10.8 million comments. The analysis of the relationships between Reddit sentiments and 1‐, 5‐, 10‐, and 30‐min GameStop returns contribute to the growing body of literature on “meme stocks” and the impact of discussions on investment forums on intraday stock price movements.

Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://doi.org/10.1111/fire.12328

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:finrev:v:58:y:2023:i:1:p:19-37

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0732-8516

Access Statistics for this article

The Financial Review is currently edited by Cynthia J. Campbell and Arnold R. Cowan

More articles in The Financial Review from Eastern Finance Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().