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A tale of company fundamentals vs sentiment driven pricing: The case of GameStop

2021-06Journal article Restricted access
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dc.contributor.authorUmar, Zaghum
dc.contributor.authorGubareva, Mariya
dc.contributor.authorYousaf, Imran
dc.contributor.authorAli, Shoaib
dc.date.accessioned2021-05-17T15:14:41Z
dc.date.available2021-05-17T15:14:41Z
dc.date.issued2021-06
dc.descriptionArtigo publicado em revista científica internacionalpt_PT
dc.description.abstractBy means of the wavelet coherence approach, we study the relationship between the GameStop returns and the sentiment driven pricing, as described by the following indicators: twitter publication count, news publication count excluding twitter, put–call ratio, and short-sale volume. The documented impacts of media-driven sentiment suggest that regulators and policymakers should continuously monitor the investing groups on social media platforms as they can create inefficiency in the market. The put–call ratio strongly and positively affects the GameStop returns prior to the peak of the GameStop saga, being one of the drivers of the January skyrocketing prices. Our results also reveal a positive relationship between the GameStop returns and the short sales volume during the GameStop episode, confirming the short squeeze phenomenon. We highlight the importance for the regulators to consider limiting some predatory short-selling practices, namely ‘‘naked’’ short selling, as excessive short selling may move the market towards inefficiency.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationUmar, Z., Gubareva, M. Yousaf, I. & Ali, S. (2021). A tale of company fundamentals vs sentiment driven pricing: The case of GameStop. Journal of Behavioral and Experimental Finance 30 (2021), 100501. https://doi.org/10.1016/j.jbef.2021.100501pt_PT
dc.identifier.doihttps://doi.org/10.1016/j.jbef.2021.100501pt_PT
dc.identifier.issn2214-6350
dc.identifier.urihttp://hdl.handle.net/10400.21/13358
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherElsevierpt_PT
dc.relationProject UID/SOC/04521/2020pt_PT
dc.relationIPL/2020/MacroRates/ISCAL projectpt_PT
dc.relation.publisherversionhttps://www.sciencedirect.com/science/article/pii/S2214635021000459pt_PT
dc.subjectReddit investorspt_PT
dc.subjectWallstreetbetspt_PT
dc.subjectGameStoppt_PT
dc.subjectShort squeezept_PT
dc.subjectInvestors sentimentspt_PT
dc.subjectTwitter publication countpt_PT
dc.subjectNews publication countpt_PT
dc.subjectPut–call ratiopt_PT
dc.titleA tale of company fundamentals vs sentiment driven pricing: The case of GameStoppt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.titleJournal of Behavioral and Experimental Financept_PT
oaire.citation.volume30pt_PT
person.familyNameumar
person.familyNameGubareva
person.familyNameyousaf
person.familyNameAli
person.givenNamezaghum
person.givenNameMariya
person.givenNameimran
person.givenNameShoaib
person.identifier.ciencia-id311F-E7AA-AAAA
person.identifier.orcid0000-0002-0425-2665
person.identifier.orcid0000-0001-6829-7021
person.identifier.orcid0000-0001-9852-6091
person.identifier.orcid0000-0001-6221-9962
person.identifier.ridY-8520-2018
person.identifier.scopus-author-id56274328600
person.identifier.scopus-author-id56850438400
rcaap.rightsrestrictedAccesspt_PT
rcaap.typearticlept_PT
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relation.isAuthorOfPublication.latestForDiscovery9bec64d4-6577-448c-8f5c-f0399fab5e73

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