| A new ETF tracking tool will measure the “hype” around stocks following the Reddit craze. In the wake of young at-home investors disrupting the market with meme stock buying, the Van Eck Vectors Social Sentiment ETF (BUZZ) will select 75 stocks “with the most bullish social media sentiment and package them into an ETF.” Similar to a momentum index, it will track stocks that are “moving on price” and “BUZZ track stocks” that are getting a lot of social media hype and attention. It’s based on the Buzz NextGen AI U.S. Sentiment Leaders Index, and what goes in the index is based on an initial list of stocks that meet two criteria: those with a $5 billion minimum market capitalization and getting consistent and diverse mentions on social media in the last year. (CNBC) |
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