Wall Street Is Looking to Reddit for Investment Advice

The Wall Street Journal2021-08-27

Deep-pocketed banks and hedge funds now take their cues from armies of Main Street traders Wall Street professionals tell everyday investors what stocks to buy. But now they have to follow some of ...

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精彩评论

Jazling
2021-08-27
Jazling
Wow
- Jazling:
  Ok
Tck
2021-08-27
Tck
[得意]
- Tck:
  y
Hazchen55
2021-08-27
Hazchen55
Sure bo
Pixiestars
2021-08-27
Pixiestars
Lol!!! I can work in Wall St too like that. Earn bug bucks and just look at reddit [笑哭]
- Chifield:
  haha.
- Hazchen55:
  indeed
Tiramisu2020
2021-08-27
Tiramisu2020
Latest
lydiaxlim
2021-08-27
lydiaxlim
hahahaha wow.. how the tables have turned
- Rolliopan:
  Nice

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But now they have to follow some of ...</p>\n\n<a href=\"https://www.wsj.com/articles/wall-street-is-looking-to-reddit-for-investment-advice-11630056648?mod=hp_lead_pos6\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".IXIC","symbol_name":"NASDAQ Composite","start_time":0,"source_url":"https://www.wsj.com/articles/wall-street-is-looking-to-reddit-for-investment-advice-11630056648?mod=hp_lead_pos6","article_id":"1155566296","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1155566296","pubTimestamp":1630067057,"sourceInfo":null,"weMediaInfo":null,"summary":"Deep-pocketed banks and hedge funds now take their cues from armies of Main Street traders\nWall Stre","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","HOOD":"Robinhood","GME":"游戏驿站",".DJI":"道琼斯"},"translate_title":"华尔街正在向Reddit寻求投资建议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"GME":0.9,"HOOD":0.9},"content_text":"Deep-pocketed banks and hedge funds now take their cues from armies of Main Street traders\nWall Street professionals tell everyday investors what stocks to buy. But now they have to follow some of these amateurs for signs of where the market is headed next.\nVenerable institutions Goldman Sachs Group Inc. and Morgan Stanley are tracking the retail trading frenzy, and hedge funds in New York and London have employees combing through the internet forum of Reddit,Twitter or chat startup Discord in search of trading opportunities. They turned to these sources following a period of market mayhem dominated by amateurs on Reddit’s WallStreetBets and the Robinhood Markets Inc. trading app who collectively boosted the shares of GameStop Corp. and other companies that had fallen out of Wall Street’s favor.\n“It’s more art than science because it’s uncharted territory,” said Simeon Siegel, a BMO Capital Markets analyst who has spent his career covering retail companies.\nOne analyst who turned to WallStreetBets this year for insight was Priyesh Mehta, 26, who advises Cayman Islands-based hedge fund Bovell Global Macro Fund. He said he never considered that a group of traders could band together on online forums with the aim of jolting prices, but as GameStop’s shares rose in January he downloaded the Reddit app on his phone, made an account and joined the forum.\nMr. Mehta keeps track of the Reddit thread WallStreetBets from his home in London.\nFor the next few weeks, he spent hours on the platform, familiarizing himself with its design. Mr. Mehta quickly learned that the place to pay attention to was the daily thread of people’s trades. He began to recognize names of accounts that posted frequently, an indication that those users may have more sway with the group. Mr. Mehta still monitors the forum and warns Bovell’s fund manager of highly mentioned stocks that could see volatility. He is also looking for potential stocks that the firm could bet against.\n“I never thought that retail traders would actually gain this much power in the market,” he said.\n\nThis isn’t the first time everyday investors grabbed the attention of Wall Street. Day traders first bloomed during the dot-com boom of the 1990s, and by 1999 the Securities and Exchange Commission chair estimated there were fewer than 7,000 of them.\nTheir numbers appear to be bigger now. During the first half of 2021, individual investors opened about 10 million new brokerage accounts, according to JMP Securities. Stock-trading app Robinhood said that it had 22.5 million accounts as of June 30, up from 18 million on March 30. This month, shares of Robinhood rallied 50% in a single day, driven by a surge of retail bets.\nThe surge has boosted the influence of WallStreetBets, the Reddit forum that powered a rise this year in the stocks of troubled companies such as GameStop and AMC Entertainment Holdings Inc. At the start of 2018, it had 200,000 subscribers on Reddit—a number that would quadruple by the start of 2020. It now has nearly 11 million.\n\nThe activities of these everyday investors is now under close scrutiny at New York-based Cindicator Capital, which has two traders spending the bulk of their days looking for trading opportunities on Reddit and Twitter, according to Nodari Kolmakhidze, the firm’s chief financial officer. In February, Cindicator even posted a job for a sentiment trader that required a refined taste for memes and membership on WallStreetBets that spanned at least a year, before deciding not to fill the post.\nThe firm uses a mix of survey data and artificial intelligence to track sentiment. Mr. Kolmakhidze said he first noticed GameStop being mentioned in August 2020 on a Discord chat the firm created for retail traders, but that he paid it little attention at the time. Mr. Kolmakhidze said he now views everyday investors as a force likely to shift markets for the foreseeable future, creating an opportunity to bet for or against assets favored by the crowd.\n“When you see these trades, you are like ‘wow, I could be there,’” he said.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":819288620,"gmtCreate":1630072546360,"gmtModify":1704955540539,"author":{"id":"3566821013640470","authorId":"3566821013640470","name":"Jazling","avatar":"https://static.tigerbbs.com/85e0a83573d9307f57fca9b2baed72af","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3566821013640470","authorIdStr":"3566821013640470"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819288620","repostId":1155566296,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5667729,"gmtCreate":1630072551414,"gmtModify":1635137805696,"authorId":3566821013640470,"author":{"id":3566821013640470,"idStr":"3566821013640470","authorId":3566821013640470,"name":"Jazling","avatar":"https://static.tigerbbs.com/85e0a83573d9307f57fca9b2baed72af","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":819288620,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":819298490,"gmtCreate":1630071364510,"gmtModify":1704955499021,"author":{"id":"3583241719564784","authorId":"3583241719564784","name":"Tck","avatar":"https://static.tigerbbs.com/916da960b2815980b6534526bd75788b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583241719564784","authorIdStr":"3583241719564784"},"htmlText":"[得意]&nbsp;","listText":"[得意]&nbsp;","text":"[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819298490","repostId":1155566296,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5667456,"gmtCreate":1630071375342,"gmtModify":1631893573514,"authorId":3583241719564784,"author":{"id":3583241719564784,"idStr":"3583241719564784","authorId":3583241719564784,"name":"Tck","avatar":"https://static.tigerbbs.com/916da960b2815980b6534526bd75788b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":819298490,"type":1,"supId":0,"prevId":0,"content":"<u>y</u>","text":"<u>y</u>","html":"<u>y</u>"}],"langContent":"CN"},{"id":819202121,"gmtCreate":1630070839363,"gmtModify":1704955487978,"author":{"id":"3585878225424538","authorId":"3585878225424538","name":"Hazchen55","avatar":"https://static.tigerbbs.com/e65723138e8b936bf54593168301d5df","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3585878225424538","authorIdStr":"3585878225424538"},"htmlText":"Sure bo","listText":"Sure bo","text":"Sure bo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/819202121","repostId":1155566296,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":819677176,"gmtCreate":1630070374395,"gmtModify":1704955477403,"author":{"id":"3581832720375359","authorId":"3581832720375359","name":"Pixiestars","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581832720375359","authorIdStr":"3581832720375359"},"htmlText":"Lol!!! I can work in Wall St&nbsp; too like that. Earn bug bucks and just look at reddit&nbsp;[笑哭]&nbsp;","listText":"Lol!!! I can work in Wall St&nbsp; too like that. Earn bug bucks and just look at reddit&nbsp;[笑哭]&nbsp;","text":"Lol!!! I can work in Wall St too like that. Earn bug bucks and just look at reddit [笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/819677176","repostId":1155566296,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5674001,"gmtCreate":1630122043929,"gmtModify":1631895017512,"authorId":3578976238295519,"author":{"id":3578976238295519,"idStr":"3578976238295519","authorId":3578976238295519,"name":"Chifield","avatar":"https://static.tigerbbs.com/35652f65436cad86ed1f7c0d94afae69","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":819677176,"type":1,"supId":0,"prevId":0,"content":"haha.","text":"haha.","html":"haha."},{"id":5667361,"gmtCreate":1630070845636,"gmtModify":1631895017504,"authorId":3585878225424538,"author":{"id":3585878225424538,"idStr":"3585878225424538","authorId":3585878225424538,"name":"Hazchen55","avatar":"https://static.tigerbbs.com/e65723138e8b936bf54593168301d5df","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":819677176,"type":1,"supId":0,"prevId":0,"content":"<u>indeed</u>","text":"<u>indeed</u>","html":"<u>indeed</u>"}],"langContent":"CN"},{"id":819652398,"gmtCreate":1630068431314,"gmtModify":1704955444438,"author":{"id":"4089812543711440","authorId":"4089812543711440","name":"Tiramisu2020","avatar":"https://static.tigerbbs.com/c7923aecbb67682b46eed9d583bc08c3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4089812543711440","authorIdStr":"4089812543711440"},"htmlText":"Latest","listText":"Latest","text":"Latest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/819652398","repostId":1155566296,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":819656251,"gmtCreate":1630068386373,"gmtModify":1704955443571,"author":{"id":"4087957536783020","authorId":"4087957536783020","name":"lydiaxlim","avatar":"https://static.tigerbbs.com/22998875507976ad47d8f09dd2f9fdeb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087957536783020","authorIdStr":"4087957536783020"},"htmlText":"hahahaha wow.. how the tables have turned&nbsp;","listText":"hahahaha wow.. how the tables have turned&nbsp;","text":"hahahaha wow.. how the tables have turned","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819656251","repostId":1155566296,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5667026,"gmtCreate":1630068708274,"gmtModify":1631896283093,"authorId":3574922110603447,"author":{"id":3574922110603447,"idStr":"3574922110603447","authorId":3574922110603447,"name":"Rolliopan","avatar":"https://static.tigerbbs.com/a76006b0036c2c9fde09d0a7571a72aa","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":819656251,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":36,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.0","shortVersion":"4.29.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1155566296"}