How AI Can Take Your Reddit Stock Trading to New Levels
Want to move past the social media chatter on hot stocks? Continue reading to find out how AI can take your online stock trading to new levels.
The Gamestop, or GME, frenzy that shocked the institutionalized world a few weeks back has become hot once again with another surge in the stock. The entire ordeal has resulted in an increased interest by financial companies in tracking online social media sites like Reddit to extract critical data regarding stocks.
Reddit is a massive dataset full of online chatter, but it is nearly impossible for anyone to monitor it manually in real-time. With each swing in stock price, it is hard to predict the behavior of retail traders. The constant developments online just move too fast for human abilities.
This scenario and challenge of tracking stock chatter online has a very simple answer: artificial intelligence. Specific AI tools can track this online chatter on Reddit and other social media sites to provide valuable insights into things like sentiment surrounding GME stock.
Our AI Toolset
Here at MVYL Associates, we have an expansive AI toolset valuable for those looking to gain such insights, including tools like:
Natural Language Processing
Sentiment Analysis
Emotion Analysis
Language Detection
Social Monitoring
While both organizations and individual traders can benefit from technology like this, the former often extracts the most value.
Many believe that it is too late to jump on the Gamestop bandwagon, but they should be looking ahead. AI tools such as these will become increasingly popular for future GME’s, and anyone looking to extract insight into any given stock can benefit greatly from them.
The WallStreetBets subreddit, which is home to this new type of retail trader, now has over 9.3 million users. The daily discussion covering stocks like GME often reaches tens of thousands of participants.
That is a lot of data that an effective AI toolset could extract value from.
If you’d like to know more on how our AI toolset can improve your trading insights, contact us here!