Title: The market sentiment and stock market: the case of social media stocks during the COVID-19 pandemic

Authors: Amber R. Eisenschenk; Daehoon Han; Jong-Min Kim

Addresses: Psychology Discipline, Division of Social Science, University of Minnesota at Morris, Morris, MN 56267, USA ' Department of Psychology and Sociology, Texas A&M University-Kingsville, Kingsville, TX, 78363-8202, USA ' Statistics Discipline, Division of Science and Mathematics, University of Minnesota at Morris, Morris, MN 56267, USA

Abstract: This research investigates the stocks for various popular social media sites and the correspondence with the social popularity surrounding those sites. The social media companies that had the highest stocks trading activity tended to be sites that also had high components to marketing on their websites, such as Etsy and Meta. The study looked and analysed the fluctuations of stock prices that these social media companies experience over time. With the presence of the COVID-19 pandemic in early 2020, there is evidence of increased popularity and stock price of all researched social media companies. This analysis also looked at the recent effects of Elon Musk's current purchase of the popular social media company, Twitter.

Keywords: social media sites; stock price; COVID-19 pandemic.

DOI: 10.1504/IJEWE.2023.132426

International Journal of Environment, Workplace and Employment, 2023 Vol.7 No.1, pp.34 - 47

Received: 29 Oct 2022
Accepted: 22 Mar 2023
Published online: 19 Jul 2023 *