Trading in today’s online world means more than entering numbers into a console and talking about it in random conversation after work. With access to millions of traders across the globe using a service like StockTwits, community insight about certain stocks can be an invaluable tool in doing your due diligence. Let’s take a look at some of the community insight gained from watching stock sentiment on StockTwits.
Elon Musk and TSLA
Elon Musk has a very polarizing effect on both bullish and bearish investors. Bulls and bears for TSLA are split down the middle on StockTwits and the sentiment seems to fluctuate between 40% to 60%. According to a recent community insight, 8.1% of all messages in the $TSLA feed mention Elon Musk directly. To put that figure into some contrast, Mark Zuckerberg is only mentioned 4.2%, and Amazon’s Jeff Bezos is only mentioned 1.8%. Apple, Netflix, and Google’s CEOs each garnered less than 1% of mentions in their corresponding feeds. TSLA is a hot stock to watch because several loans to the company are coming due within the next few months.
Investors Afraid of Downturn this Year
The volatility of the stock market has spooked investors who are afraid a significant trend of downturns is on the way. February was the first red month for the S&P 500 since 2017, and despite strong performance over the summer, the market is trending red again. StockTwits analyzed the content of messages on their platform and discovered that each downturn brings with it a shift from bullishness to bearishness that is more drastic than the previous downturn period.
Most Followed Cryptocurrencies
StockTwits isn’t just the place to talk about stocks and companies; the site also has a large user base interested in cryptocurrency. Bitcoin, Ethereum, Litecoin, and Ripple cap out the top four most-followed cryptocurrencies on StockTwits. But the data shows how small altcoins are growing year over year. NEO, Bitcoin Cash, OmiseGo, and Monero all three are gaining traction on the platform.
Emojis Used by Traders
You’ll find countless articles online telling you to divorce your emotions if you want to trade on the stock market. That’s not bad advice, but it ignores the fact that humans are tuned to express themselves in emotions. StockTwits recently took a look at the most-used emojis shared by traders on their platform, and the results were pretty unique. They divided the tweets up into three categories including bullish, bearish, and overall sentiment. The top symbol overall is the checkmark, while the top symbol for bulls and bears is the up and down arrows respectively. Coffee, skull, airplane, sun, and shamrock emojis all make an appearance on the list.
BTFD
Buy the f’ dip (BTFD) is a piece of advice often shared by members on StockTwits, dating back to the services’ inception in 2010. The phrase itself reached its peak popularity in 2013, but it’s still a piece of wisdom being shared across the site. Top stocks mentioned with BTFD are Apple, Tesla, and Netflix.