The activity in the Reddit r/wallstreetbets community is staggering. Each day, there are around 800 posts and 50,000 comments debating approximately 280 different stocks. But by just browsing Reddit, between the memes and degenerate gamblers, it can be hard to understand the full nature of the discussion.

In this post, I’ve turned to a bit of SQL and Python to explore what’s happening in the wallstreetbets hivemind. I’ve analyzed stock popularity, sophisticated but overlooked discussions, and community influencers.

If you’re interested, here’s the raw Reddit data, my data pipeline, the derived data, and my Jupyter notebook. I’m using Beneath, an open data platform I’m building, to stream and save the data.

Btw, this isn’t investment advice… DYOR.

Let’s start with the basics. What are the most discussed stocks and how have they changed over time?

The stocks on wallstreetbets can be broadly bucketed into two categories: long-standing wallstreetbets’ interests and stocks related to current events. We can see these two categories by inspecting a line graph of mentions over time (select stocks):

Click here to view interactive chart

The long-standing wallstreetbets interests jump out: these are the lines that occupy a significant percentage of mentions over the whole time period. These include staples like Gamestop (GME) and AMC, but the community has also long been tracking Clover Health (CLOV) and AMD, the semiconductor manufacturer. It doesn’t look like wallstreetbets will lose interest in these anytime soon.

On the other hand, we see stocks that spike suddenly due to specific events, such as Robinhood (HOOD) and Microvast (MVST), a lithium-ion battery manufacturer. Both of these stocks went public at the end of July and received bursts of attention from the community, but the interest hasn’t lasted. As of September 1st, both stocks now have a near-zero percent share of daily mentions.

In this next chart, we zoom in on the most discussed stocks in the month of August.

Click here to view interactive chart

GME and AMC have long been community favorites, and even in August, they remain the most mentioned stocks. I’ve been collecting data from wallstreetbets since March, and the two companies have been the most discussed for 4 of these 6 months. But it’s also clear that it’s not a power law distribution, and contending stocks get significant discussion, too.

The NASDAQ includes over…

Continue reading: https://towardsdatascience.com/analyzing-the-r-wallstreetbets-hivemind-august-2021-7f8fd7f5a06c?source=rss—-7f60cf5620c9—4

Source: towardsdatascience.com