Hedge Funds Tap Startup to Provide Real-Time Data on WallStreetBets
The WallStreetBets forum on the Reddit Inc. website on a laptop computer arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021. Photographer: Tiffany Hagler-Geard/Bloomberg via Getty Images
January 29, 2021
By Alex Vuocolo
The race is on for hedge funds to better understand how social media is moving markets or risk the same fate as the short-sellers who were clobbered by the rally in GameStop shares.
One way to get ahead of these trends is to more closely track subreddits such as /WallStreetBets, which sparked off the recent buying frenzy and is keeping it rolling with a steady stream of messages telling members to hold the line on their investment.
Prior to the widespread availability of the internet, Wall Street insiders had a huge advantage when it came to access to information about public companies. Individual investors would often read about market-moving news in the newspaper the next day or in a company’s annual report once it. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
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