social media

What Does ChatGPT Make of Historical Stock Returns? Extrapolation and Miscalibration in LLM Stock Return Forecasts

LLMs manifest common behavioral biases when forecasting expected returns but are better at gauging risks than humans.

Wisdom or Whims? Decoding Investor Trading Strategies with Large Language Models

We investigate the trading strategies of retail investors by applying LLMs to analyze messages posted by users on StockTwits.

Do Smartphones Transform Information Transmission in Financial Markets? Evidence from StockTwits

Tweets posted via smartphones predict next-day returns and news, suggesting smartphones facilitate rapid access to information.