Working papers

Extreme Views on Reddit: Information or Noise

This paper studies the intensity of fanatic activity on r/wallstreetbets (WSB), a Reddit forum, and its relationship to price informativeness and the information components driving return variance. By introducing a novel measure, Extreme Views (EV), I quantify fanatic attention to NYSE and NASDAQ stocks from 2018 to 2023. The findings show that increased exposure to posts with fanatic language on WSB is significantly associated with a higher share of variance attributed to public information and a reduced noise component. Although the negative impact on price informativeness is sporadic, the results suggest that investors using social media for information should be cautious of fanatic investment advice, as the prices of stocks popular among fanatics tend to be less informative about future fundamentals.

Work in progress

Large Traders and Liquidity Spillovers

Master’s thesis

Forecasting Realized Variance: A Comparison between HAR and ARFIMA models (2021)