We examine how research posted by “social media analysts” (SMAs)—individuals posting equity research online via social media investment platforms—is related to research subsequently produced by professional sell-side equity analysts. Using data from Seeking Alpha, we find that the market...

We examine the impact of “social media analysts,” individuals posting equity research online via social media investment platforms, on the relevance of research produced by professional sell-side equity analysts. Using data from Seeking Alpha, we find that the market reaction to sell-side...