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.
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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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