Over the 10-year study period, of about 1.4 million tweets from the top 400 accounts posting to the “cashtag” $TSLA, 10% were produced by bots. While any direct link between bot tweets and stock prices has yet to be determined, the researchers found enough “smoke” to keep their project going. That’s not out of line with giants like Amazon and Apple, but their bots tended to push the stock market and tech stocks in general, with those companies as leaders, but not focus on any particular narrative about the companies. Using a software program called Botometer that social media researchers use to distinguish bot accounts from human accounts, the pair found that a fifth of the volume of tweets about Tesla were bot-generated. Operational results can’t justify anything close to the company’s $1-trillion market value, based on any kind of traditional stock-pricing metric.Įmails to Tesla and a Twitter message to Musk seeking comment for this story went unanswered. Over that period, Tesla lost an accumulated $5.7 billion, even as its stock soared and Musk became one of the richest humans on the planet his net worth is estimated at $275 billion. Kirsch and Chowdhury collected and reviewed Tesla-related tweets from 2010, when the company went public, to the end of 2020. He’s now trying to nullify that agreement in the courts.Ī Twitter bot is a fake account, programmed to scour the social media site for specific posts or news content - Musk’s posts, for example - and respond with relevant, preprogrammed tweets: “Tremendous long term growth prospects” or “Why Tesla stock is rallying today” or “Tesla’s Delivery Miss Was ‘Meaningless.’” The bots can also be programmed to send nasty or threatening messages to company critics. Securities and Exchange Commission in 2018 for allegedly duping investors into believing he had a deal to take Tesla private when he didn’t. Musk is a Twitter phenomenon, constantly posting tweets for his 80 million followers that range from standard to outrageous to juvenile to profane. After buying nearly 10% of Twitter last month, Musk announced that he’d be joining the board, but Twitter revealed Monday that he’d changed his mind for unspecified reasons. Their inquiry comes as Musk has been signaling an intention to use his wealth and gigantic Twitter following to influence the platform’s future direction and policies. In a market in love with “meme stocks,” sexy narrative is proving far more profitable than financial analysis, said Kirsch, co-author of “ Bubbles and Crashes: The Boom and Bust of Technological Innovation.” Smith School of Business, concludes that activity of this sort by so-called bots has played a significant part in the “stock of the future” narrative that has propelled Tesla’s market value to altitudes loftier than any traditional financial analysis could justify. Kirsch, a professor at the University of Maryland’s Robert H. With more than 500 million tweets sent per day across the network, that output represents a drop in the ocean. Over the next seven years, they would post more than 30,000 such tweets. 7, within a span of 75 minutes, eight automated Twitter accounts came to life and began publishing positive sentiments about Tesla. A series of reports had documented instances of Tesla Model S sedans catching on fire, causing the electric carmaker’s share price to tumble. In early November 2013, the news wasn’t looking great for Tesla.
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