I came across this scientific paper:
The Impact of Social Media on Stock Market Performance: Premium vs. Non-Premium Stock Recommendations
By Tucker Cashman
The study suggests that the platform itself matters. TikTok and X influencers demonstrated stronger long‑term performance, while Reddit‑based recommendations underperformed consistently. Overall, the findings suggest that credibility, incentives, and communication style all play a role in determining whether influencer advice leads to sustainable returns.
The study also finds a clear pattern: non‑premium influencers often generate strong short‑term gains driven by hype, but these returns tend to be volatile and frequently turn negative within weeks. In contrast, premium influencers show lower short‑term excitement but deliver more stable, research‑driven returns over the long term, ultimately outperforming non‑premium picks after one year.
That said, I wished the paper had included a larger and more diverse pool of influencers, especially given how concentrated the sample is. In particular, the absence of YouTube influencers feels like a missed opportunity, as YouTube is a major platform for long‑form financial analysis and portfolio breakdowns. Including YouTube creators could have strengthened the conclusions and provided a more complete picture of how influencer formats affect investor behavior.
Link:
The Impact of Social Media on Stock Market Performance
byu/arab-european ininvesting
Posted by arab-european