Self-induced consensus of Reddit users to characterise the GameStop short squeeze
dc.contributor.author | Mancini, A | |
dc.contributor.author | Desiderio, A | |
dc.contributor.author | Di Clemente, R | |
dc.contributor.author | Cimini, G | |
dc.date.accessioned | 2022-11-04T10:12:35Z | |
dc.date.issued | 2022-08-12 | |
dc.date.updated | 2022-11-03T20:11:58Z | |
dc.description.abstract | The short squeeze of GameStop (GME) shares in mid-January 2021 has been primarily orchestrated by retail investors of the Reddit r/wallstreetbets community. As such, it represents a paramount example of collective coordination action on social media, resulting in large-scale consensus formation and significant market impact. In this work we characterise the structure and time evolution of Reddit conversation data, showing that the occurrence and sentiment of GME-related comments (representing how much users are engaged with GME) increased significantly much before the short squeeze actually took place. Taking inspiration from these early warnings as well as evidence from previous literature, we introduce a model of opinion dynamics where user engagement can trigger a self-reinforcing mechanism leading to the emergence of consensus, which in this particular case is associated to the success of the short squeeze operation. Analytical solutions and model simulations on interaction networks of Reddit users feature a phase transition from heterogeneous to homogeneous opinions as engagement grows, which we qualitatively compare to the sudden hike of GME stock price. Although the model cannot be validated with available data, it offers a possible and minimal interpretation for the increasingly important phenomenon of self-organized collective actions taking place on social networks. | en_GB |
dc.description.sponsorship | Tor Vergata University of Rome | en_GB |
dc.format.extent | 13780- | |
dc.format.medium | Electronic | |
dc.identifier.citation | Vol. 12, article 13780 | en_GB |
dc.identifier.doi | https://doi.org/10.1038/s41598-022-17925-2 | |
dc.identifier.uri | http://hdl.handle.net/10871/131622 | |
dc.identifier | ORCID: 0000-0001-8005-6351 (Di Clemente, Riccardo) | |
dc.identifier | ScopusID: 55325867200 (Di Clemente, Riccardo) | |
dc.identifier | ResearcherID: N-9471-2014 (Di Clemente, Riccardo) | |
dc.language.iso | en | en_GB |
dc.publisher | Nature Research | en_GB |
dc.relation.url | https://www.ncbi.nlm.nih.gov/pubmed/35962174 | en_GB |
dc.relation.url | https://www.reddit.com/r/pushshift/ | en_GB |
dc.relation.url | https://polygon.io | en_GB |
dc.rights | © The Author(s) 2022. Open Access. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. | en_GB |
dc.subject | Accidental Injuries | en_GB |
dc.subject | Communication | en_GB |
dc.subject | Consensus | en_GB |
dc.subject | Humans | en_GB |
dc.subject | Social Media | en_GB |
dc.subject | Social Networking | en_GB |
dc.title | Self-induced consensus of Reddit users to characterise the GameStop short squeeze | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2022-11-04T10:12:35Z | |
dc.identifier.issn | 2045-2322 | |
exeter.article-number | 13780 | |
exeter.place-of-publication | England | |
dc.description | This is the final version. Available on open access from Nature Research via the DOI in this record | en_GB |
dc.description | Data availability: Reddit conversation data used in this study can be retrieved from the Pushshift API at https://www.reddit.com/r/pushshift/. Stock price and traded volumes data are instead obtained by the Polygon API at https://polygon.io. | en_GB |
dc.identifier.eissn | 2045-2322 | |
dc.identifier.journal | Scientific Reports | en_GB |
dc.relation.ispartof | Sci Rep, 12(1) | |
dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | en_GB |
dcterms.dateAccepted | 2022-08-02 | |
rioxxterms.version | VoR | en_GB |
rioxxterms.licenseref.startdate | 2022-08-12 | |
rioxxterms.type | Journal Article/Review | en_GB |
refterms.dateFCD | 2022-11-04T10:10:52Z | |
refterms.versionFCD | VoR | |
refterms.dateFOA | 2022-11-04T10:12:43Z | |
refterms.panel | B | en_GB |
refterms.dateFirstOnline | 2022-08-12 |
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