Will the reddit rebellion take you to the moon? Evidence from WallStreetBets.

Financ Mark Portf Mang · 2023 · PMC9210333 · PMID 35755576

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marginally statistically significantno p-value reported

For both the full sample and the pre-2021 samples, the loading on momentum is zero on the one-day portfolio and positive and marginally statistically significant on the long portfolios in the one-week and one-month holding periods.

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marginally significantno p-value reported

Interestingly, on the bullish days, alpha on the short leg of the portfolio is marginally significant at the 10% level.

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