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Alternative Market Briefing

Hedge funds are utilizing Twitter and social media for trading opportunities

Wednesday, December 09, 2015

Komfie Manalo, Opalesque Asia:

Hedge funds are utilizing Twitter and other social media platforms for trading opportunities by monitoring sentiments that might have impact on the equity market, reported Invest Correctly.

According to the report, these social media platforms, especially Twitter, provides large investors such as hedge funds, with invaluable information that keeps big data analytics ahead of the game.

The report cited as an example Eagle Alpha, which analyzed more than 7,000 comments from Reddit. This helped the firm predict a strong demand for Electronic Arts’ new Star Wars videogame.

In July, we reported that handful of hedge funds, banks and high frequency traders are paying as much as $15,000 each per month per stock symbol to technology firms that analyze over one million tweets from traders, investors and market commentators to determine their sentiments.

Another example is hedge fund firm Tashtego, backed by early Twitter Inc. investor Spark Capital, which is is mining Twitter information and using consumer sentiment and trader behavior from social networks to bet on and against U.S. stocks......................

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