Latest from the Twittersphere: stock indexes to track most-hyped companies

- Advertisement -


18 Nov (Businesshala) – What’s the importance of being famous on Twitter? The S&P Dow Jones Index and two new stock indexes created by Twitter will reveal the mystery on Thursday, measuring the performance of the busiest companies for investors tracking social media influence.

- Advertisement -

Twitter (TWTR.N) has long played a central role for investors and traders alike to share stock tips, keep up with the latest company news, and follow the latest thoughts from Tesla (TSLA.O) CEOs like Elon Musk. who recently polled his 64 millionth. Followers are up on whether he should sell 10% of his Tesla shares.

- Advertisement -

The S&P 500 Twitter Sentiment Index will measure the performance of the top 200 companies within the S&P 500 that have the “highest sentiment score,” based on how users of the social network are discussing stocks, according to the S&P The Dow Jones Index said.

The companies within the index will be weighted by market capitalization. The second index will measure the performance of the top 50 companies with equal weight.

- Advertisement -

The new indexes come as tweets about finance have been on the rise on the San Francisco-based social media site, especially with the growth of cryptocurrencies. Twitter said that finance-related conversations were up 26% in 2020 from the previous year.

S&P DJI said it will measure S&P 500 companies’ Twitter sentiment on a daily basis by analyzing tweets that contain “cashtags,” a stock ticker feature that works similarly to hashtags, and scores whether the tweets are more positive or positive. negative or not. Both the indices will be rebalanced monthly.

Amazon.com Inc (AMZN.O), JPMorgan Chase & Co (JPM.N) and Meta Platforms Inc (FB.O), the new name for Facebook, will be among the companies on the Twitter sentiment index, the S&P DJI said, although it declined to provide a complete list.

Reporting by Sheila Dang in Dallas; Editing by Leslie Adler

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox