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Can stock recommendations via official WeChat accounts trigger market reactions?

WeChat, as a social media platform with 1.2b monthly active users as of 2Q20, has transformed media consumption behaviour and gained influence among Chinese stock investors. This review summarizes the key empirical findings from an academic work that explores how the market reacts to the stocks recommended via official WeChat accounts. We summarise the findings of this research and highlight several Neudata-listed alternative data providers applicable for such use cases.

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Helena Yu Data Strategist (China)