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Title:
IMPACT OF INTERNET INFORMATION ON RETAIL INVESTORS’ INVESTMENT DECISION: EVIDENCEFROM ROBINHOOD INVESTORS AND REDDIT DISCUSSIONS

Authors:
Jai Khanna

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Jai Khanna
Step by step school , Noida

MLA 8
Khanna, Jai. "IMPACT OF INTERNET INFORMATION ON RETAIL INVESTORS’ INVESTMENT DECISION: EVIDENCEFROM ROBINHOOD INVESTORS AND REDDIT DISCUSSIONS." Int. j. of Social Science and Economic Research, vol. 5, no. 11, Nov. 2020, pp. 3695-3703, doi:10.46609/IJSSER.2020.v05i11.026. Accessed Nov. 2020.
APA 6
Khanna, J. (2020, November). IMPACT OF INTERNET INFORMATION ON RETAIL INVESTORS’ INVESTMENT DECISION: EVIDENCEFROM ROBINHOOD INVESTORS AND REDDIT DISCUSSIONS. Int. j. of Social Science and Economic Research, 5(11), 3695-3703. doi:10.46609/IJSSER.2020.v05i11.026
Chicago
Khanna, Jai. "IMPACT OF INTERNET INFORMATION ON RETAIL INVESTORS’ INVESTMENT DECISION: EVIDENCEFROM ROBINHOOD INVESTORS AND REDDIT DISCUSSIONS." Int. j. of Social Science and Economic Research 5, no. 11 (November 2020), 3695-3703. Accessed November, 2020. doi:10.46609/IJSSER.2020.v05i11.026.

References

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Abstract:
This paper studies how information on the internet affects the stock picking decision of retail investors. We use stock discussion on subReddit r/wallstreetbet to proxy for information that retail investors receive from the internet and look at how stock held by Robinhood investors correlates with the amount of discussion around the stock in Reddit. Our result shows that stocks with a high number of discussions on Reddit are excessively held by Robinhood investors, even after controlling for market capitalization of each stock. Our result sheds light on the process through which retail investors decide which stock to include in their portfolio, and reveals another dimension of irrationality in retail investor’s behavior.

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