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Social Media, Trading Volume, Volatility And Stock Prices

Author

Listed:
  • HALIL D KAYA

    (DEPARTMENT OF ACCOUNTING AND FINANCE, COLLEGE OF BUSINESS AND TECHNOLOGY, NORTHEASTERN STATE UNIVERSITY, BROKEN ARROW, OK 74014)

  • ABHINAV MARAMRAJU

    (WEST WINDSOR-PLAINSBORO HIGH SCHOOL SOUTH, 346 CLARKSVILLE RD, PRINCETON JUNCTION, NJ 08550)

  • ANISH NALLAPU

    (GREEN HOPE HIGH SCHOOL, 2500 CARPENTER UPCHURCH RD, CARY, NC 27519)

Abstract

This study investigates the impact of social media events on the behavior of six mega-cap technology stocks. Analyzing both positive and negative events, we find that negative events correlate with higher VIX Betas and trading volumes, while positive events are linked to higher stock prices. These effects vary across individual stocks, and unexpected associations emerge, such as increased trading volume for certain positive events. Our findings offer insights into the intricate interplay between social media events and market dynamics, highlighting the nuanced influences on volatility, trading volume, and stock prices for specific stocks. This study contributes to our understanding of the complex relationship between social media and financial markets, emphasizing the importance of considering stock-specific dynamics in investment strategies.

Suggested Citation

  • Halil D Kaya & Abhinav Maramraju & Anish Nallapu, 2023. "Social Media, Trading Volume, Volatility And Stock Prices," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 40-50, December.
    • Handle: RePEc:cbu:jrnlec:y:2023:v:6:p:40-50
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    References listed on IDEAS

    as
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