[{"type":"journal_article","publication":"Finance Research Letters","status":"public","abstract":[{"text":"In January 2021, the GameStop stock was the epicenter of the first case of predatory trading initiated by retail investors. We use brokerage accounts to study who participated in this GameStop frenzy and how they performed. We investigate the extent to which investors’ personal and trading characteristics differ from the general population of retail investors. GameStop traders had a history of investing in speculative instruments, including stocks with lottery-like features. They were also more likely to close their positions before the peak of the bubble. At the onset of the frenzy, numerous retail investors also shorted GameStop. Overall, our results indicate that the GameStop frenzy was not a pure digital protest against Wall Street but speculative trading by a group of retail investors, in line with their prior high-risk trading behavior.","lang":"eng"}],"user_id":"67265","department":[{"_id":"186"},{"_id":"578"}],"_id":"22205","language":[{"iso":"eng"}],"article_type":"original","article_number":"102140","keyword":["Predatory Trading","Retail Investors","Trading Behavior"],"related_material":{"link":[{"url":"https://doi.org/10.1016/j.frl.2021.102140","relation":"research_paper"}]},"publication_status":"accepted","quality_controlled":"1","jel":["G11"],"citation":{"ama":"Hasso T, Müller D, Pelster M, Warkulat S. Who participated in the GameStop frenzy? Evidence from brokerage accounts. <i>Finance Research Letters</i>. doi:<a href=\"https://doi.org/10.1016/j.frl.2021.102140\">10.1016/j.frl.2021.102140</a>","chicago":"Hasso, Tim, Daniel Müller, Matthias Pelster, and Sonja Warkulat. “Who Participated in the GameStop Frenzy? Evidence from Brokerage Accounts.” <i>Finance Research Letters</i>, n.d. <a href=\"https://doi.org/10.1016/j.frl.2021.102140\">https://doi.org/10.1016/j.frl.2021.102140</a>.","ieee":"T. Hasso, D. Müller, M. Pelster, and S. Warkulat, “Who participated in the GameStop frenzy? Evidence from brokerage accounts,” <i>Finance Research Letters</i>.","apa":"Hasso, T., Müller, D., Pelster, M., &#38; Warkulat, S. (n.d.). Who participated in the GameStop frenzy? Evidence from brokerage accounts. <i>Finance Research Letters</i>. <a href=\"https://doi.org/10.1016/j.frl.2021.102140\">https://doi.org/10.1016/j.frl.2021.102140</a>","short":"T. Hasso, D. Müller, M. Pelster, S. Warkulat, Finance Research Letters (n.d.).","bibtex":"@article{Hasso_Müller_Pelster_Warkulat, title={Who participated in the GameStop frenzy? Evidence from brokerage accounts}, DOI={<a href=\"https://doi.org/10.1016/j.frl.2021.102140\">10.1016/j.frl.2021.102140</a>}, number={102140}, journal={Finance Research Letters}, author={Hasso, Tim and Müller, Daniel and Pelster, Matthias and Warkulat, Sonja} }","mla":"Hasso, Tim, et al. “Who Participated in the GameStop Frenzy? Evidence from Brokerage Accounts.” <i>Finance Research Letters</i>, 102140, doi:<a href=\"https://doi.org/10.1016/j.frl.2021.102140\">10.1016/j.frl.2021.102140</a>."},"year":"2021","date_created":"2021-05-14T11:55:12Z","author":[{"first_name":"Tim","last_name":"Hasso","full_name":"Hasso, Tim"},{"last_name":"Müller","full_name":"Müller, Daniel","id":"50569","first_name":"Daniel"},{"first_name":"Matthias","last_name":"Pelster","orcid":" https://orcid.org/0000-0001-5740-2420","full_name":"Pelster, Matthias","id":"67265"},{"last_name":"Warkulat","id":"67243","full_name":"Warkulat, Sonja","first_name":"Sonja"}],"date_updated":"2022-01-06T06:55:29Z","main_file_link":[{"url":"https://doi.org/10.1016/j.frl.2021.102140"}],"doi":"10.1016/j.frl.2021.102140","title":"Who participated in the GameStop frenzy? Evidence from brokerage accounts"},{"department":[{"_id":"196"}],"user_id":"60721","_id":"25029","language":[{"iso":"eng"}],"keyword":["Retail investors","GameStop","Social Networks","Reddit","WallStreetBets"],"publication":"42nd International Conference on Information Systems (ICIS 2021)","type":"conference","status":"public","abstract":[{"text":"In early 2021, the finance world was taken by storm by the dramatic price surge of the GameStop Corp. stock. This rise is being, at least in part, attributed to a group of Redditors belonging to the now-famous r/wallstreetbets (WSB) subreddit group. In this work, we set out to address if user activity on the WSB subreddit is associated with the trading volume of the GME stock. Leveraging a unique dataset containing more than 4.9 million WSB posts and comments, we assert that user activity is associated with the trading volume of the GameStop stock. We further show that posts have a significantly higher predictive power than comments and are especially helpful for predicting unusually high trading volume. Lastly, as recent events have shown, we believe that these findings have implications for retail and institutional investors, trading platforms, and policymakers, as these can have disruptive potential.","lang":"eng"}],"author":[{"full_name":"Caron, Matthew","id":"60721","last_name":"Caron","first_name":"Matthew"},{"first_name":"Maryna","last_name":"Gulenko","id":"64226","full_name":"Gulenko, Maryna"},{"first_name":"Oliver","id":"72849","full_name":"Müller, Oliver","last_name":"Müller"}],"date_created":"2021-09-24T09:51:35Z","date_updated":"2023-02-28T08:58:16Z","conference":{"start_date":"2021-12-12","name":"42nd International Conference on Information Systems (ICIS 2021)","location":"Austin, Texas","end_date":"2021-12-15"},"main_file_link":[{"url":"https://aisel.aisnet.org/icis2021/social_media/social_media/13/"}],"title":"To the Moon! Analyzing the Community of “Degenerates” Engaged in the Surge of the GME Stock","publication_status":"published","citation":{"apa":"Caron, M., Gulenko, M., &#38; Müller, O. (2021). To the Moon! Analyzing the Community of “Degenerates” Engaged in the Surge of the GME Stock. <i>42nd International Conference on Information Systems (ICIS 2021)</i>. 42nd International Conference on Information Systems (ICIS 2021), Austin, Texas.","bibtex":"@inproceedings{Caron_Gulenko_Müller_2021, title={To the Moon! Analyzing the Community of “Degenerates” Engaged in the Surge of the GME Stock}, booktitle={42nd International Conference on Information Systems (ICIS 2021)}, author={Caron, Matthew and Gulenko, Maryna and Müller, Oliver}, year={2021} }","short":"M. Caron, M. Gulenko, O. Müller, in: 42nd International Conference on Information Systems (ICIS 2021), 2021.","mla":"Caron, Matthew, et al. “To the Moon! Analyzing the Community of ‘Degenerates’ Engaged in the Surge of the GME Stock.” <i>42nd International Conference on Information Systems (ICIS 2021)</i>, 2021.","ama":"Caron M, Gulenko M, Müller O. To the Moon! Analyzing the Community of “Degenerates” Engaged in the Surge of the GME Stock. In: <i>42nd International Conference on Information Systems (ICIS 2021)</i>. ; 2021.","ieee":"M. Caron, M. Gulenko, and O. Müller, “To the Moon! Analyzing the Community of ‘Degenerates’ Engaged in the Surge of the GME Stock,” presented at the 42nd International Conference on Information Systems (ICIS 2021), Austin, Texas, 2021.","chicago":"Caron, Matthew, Maryna Gulenko, and Oliver Müller. “To the Moon! Analyzing the Community of ‘Degenerates’ Engaged in the Surge of the GME Stock.” In <i>42nd International Conference on Information Systems (ICIS 2021)</i>, 2021."},"year":"2021"}]