Vocabulary Herfindahl Index (VocaHIn): Linguistic dominance and collective effervescence in WallStreetBets

Ko Hayakawa, Yoichi Otsubo, Ser-huang Poon and Siliang Wei

Economics Letters, 2024, vol. 244, issue C

Abstract: Our analysis of over 150,000 WallStreetBets comments reveals dominant phrases when members of the community experience collective excitement and solidarity (Collective Effervescence). Using the novel Vocabulary Herfindahl Index (VocaHIn), we find that stock returns volatility increases after CE, and vice versa.

Keywords: Vocabulary Herfindahl Index (VocaHIn); Collective effervescence; Retail investors; Meme stocks (search for similar items in EconPapers)
JEL-codes: G1 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:244:y:2024:i:c:s0165176524005111

DOI: 10.1016/j.econlet.2024.112027

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