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...

Changing economic conditions over the past two decades have created incentives for sell-side analysts to both provide their institutional clients tiered services and to streamline their written research process. One manifestation of these changes is an increased likelihood of analysts' issuing...

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...