Eli Hoffmann, senior vice president of content and editor in chief of SeekingAlpha.com, writes that recent research has shown that the more a post on its site is read, the more likely the stock mentioned in the post will move.
Hoffmann writes, “The researchers looked at pageviews and reads-to-end (how many readers finished reading an article) for articles that were destined to be predictive of future returns, and for articles that were destined to be counter-predictive of future returns. They also measured the acrimoniousness of those articles’ comments. They found, astonishingly, that during the first 48 hours after publication, articles that were destined to be predictive of future returns had above average page-views, above average reads-to-end, and unacrimonious comment streams, while articles that were destined to be counter-predictive had below average page-views, below average reads-to-end, and acrimonious comment streams. In other words, crowd behavior was a leading indicator of which predictions would be right, and which would be wrong.
“Other points from the study that weren’t obvious from the Journal article:
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