TY  - JOUR
A1  - Costola, Michele
A1  - Iacopini, Matteo
A1  - Santagiustina, Carlo R. M. A.
T1  - On the "mementum" of meme stocks
T2  - Economics letters
N2  - The meme stock phenomenon has yet to be explored. In this note, we provide evidence that these stocks display common stylized facts for the dynamics of price, trading volume, and social media activity. Using a regime-switching cointegration model, we identify the meme stock “mementum” which exhibits a different characterization compared to other stocks with high volumes of activity (persistent and not) on social media. Finally, we show that mementum is significant and positively related to the stock’s returns. Understanding these properties helps investors and market authorities in their decisions.
KW  - Meme stocks
KW  - Social media
KW  - Social trading
KW  - Cointegration
KW  - Regime switching
Y1  - 2021
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/78154
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-781546
SN  - 0165-1765
VL  - 207
IS  - 110021
PB  - Elsevier
CY  - Amsterdam
ER  -