Do Podcasts Move the Stock Market?

Research

61 Pages

A study found that investing podcasts accelerate the incorporation of publicly available information into prices rather than providing an exploitable information advantage.

 

Key Takeaways

Podcasts Move Trading: Podcast exposure days saw turnover rise 0.34 percentage points, about 30% of the unconditional mean, with absolute returns up 0.53 points.
Retail Reacts More: Podcast coverage raised the probability of Retail Dominant trading days by 10.2 percentage points and Both Active days by 10.5 points.
No Easy Edge: The dataset covers 93 shows, 25,350 episodes, 102,623 stock snippets and 4,570 tickers, but podcast based strategies did not outperform.

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