Abstract
Our analysis of over 150,000 WallStreetBets comments reveals dominant phrases when members of the community experience collective excitement and solidarity (Collective Effervescence). Using the novel Vocabulary Herfindahl Index (VocaHIn), we find that stock returns volatility increases after CE, and vice versa.
Original language | English |
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Article number | 112027 |
Journal | Economics Letters |
Volume | 244 |
DOIs | |
Publication status | Published - Nov 2024 |
Keywords
- Collective effervescence
- Meme stocks
- Retail investors
- Vocabulary Herfindahl Index (VocaHIn)