Feb 04, 2021 (Baystreet.ca via COMTEX) -- Social media can have a significant impact on stock prices. Look at the Reddit chatroom, WallStreetBets for example. Over the last few weeks, it took the financial world by storm, squeezing stocks like GameStop, Bed Bath & Beyond, and AMC Entertainment to unbelievable valuations. That’s further proof investors have turned to chat rooms for investing ideas. Unfortunately, not all information gathered in such chat rooms is truthful information. However, with a good deal of rampant disinformation, artificial intelligence (AI) has become an essential tool in deciphering necessary data for investors. Some of the companies working to prevent disinformation include Datametrex AI Ltd. /zigman2/quotes/205295278/delayed CA:DM 0.00% , /zigman2/quotes/202882356/composite DTMXF -3.16% , Snap Inc. /zigman2/quotes/205087158/composite SNAP -3.05% , Facebook Inc. /zigman2/quotes/205064656/composite FB -1.15% , Twitter Inc. /zigman2/quotes/203180645/composite TWTR -3.74% , and Alphabet Inc. /zigman2/quotes/205453964/composite GOOG +0.11% .
Datametrex AI Ltd. /zigman2/quotes/205295278/delayed CA:DM 0.00% /zigman2/quotes/202882356/composite DTMXF -3.16% BREAKING NEWS: Datametrex AI Ltd. announce that NexaSMART allows for deepened analysis and understanding of social media influence over stock prices. Nexalogy will soon add Reddit and other data sources in order to expand AI interpretation of such trends. NexaSMART stands for “Social Media Automated Reporting Technology.”
Many investor eyes have turned to the subject of discussion forums such as Reddit that can have impact on the stock market and the price rise of specific stocks, sometimes even despite poor business indicators. According to the Wall Street Journal, mainstream journalists have linked cryptocurrency, stock speculation and conspiracy theories together as a formula for volatility in markets.
In today’s environment, investors rely even more on their investments to secure a comfortable retirement. We believe it is vital for people to know what the truth is and what is fiction when searching for information online that can have a major impact on their returns.
Nexalogy, the wholly owned subsidiary of Datametrex AI Limited, has expertise in disinformation research, and is able to track phenomenon of this nature as evidenced in NexaSMART reports (Read Report Here). According to MarketWatch, a Market Extra article indicated how monitoring is a market opportunity one that Nexalogy feels SMART technology can provide actionable insights for, in terms of monitoring stock volatility.
Key highlights of the report: NexaSecurity AI report is very much on point summarizing stock winners and losers and the gist of discussions without human input. This newly generated report also clearly indicated a 'silver squeeze' was being debated across the r/wallstreetbets and other Reddit sub-reddits forums as well as on Twitter. The report also maps journalist interest in day traders, hedge-funds, and the overall stock market impact of the Reddit effect.
"We started collecting this data at the end of January” says Marshall Gunter, CEO of the Company. “This report was generated after three days of data collection and is an example of our AI in action. We are happy to report that NexaSMART will include Reddit and other data sources as of Q2 2021. This will expand our offering and capitalize of the new information environment reflected in the Reddit events."
Other related developments from around the markets include:
Snap Inc. /zigman2/quotes/205087158/composite SNAP -3.05% will hold its quarterly conference call to discuss fourth quarter and full year 2020 financial results on Thursday, February 4, 2021 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Snap Inc. will also hold a virtual Investor Day with financial analysts and institutional investors on Tuesday, February 23, 2021 beginning at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time).