New research indicates that bots are pumping GameStop shares on Twitter, Facebook, and Instagram:
PiiQ said it identified very similar daily “start and stop patterns” in the GameStop-related posts, with activity starting at the beginning of the trading day, followed by a large spike at the end of the trading day. Such patterns are indicative of bots, said Aaron Barr, co-founder and chief technology officer of PiiQ.
“We saw clear patterns of artificial behavior across the other four social media platforms. When you think of organic content, it’s variable in the day, variable day-to-day. It doesn’t have the exact same pattern every day for a month,” he said.
The research firm, PiiQ Media, also found signs of robot activity in other stocks favored by the Wallstreetbets community, along with Dogecoin cryptocurrency.
Reddit claims it has seen no sign of bot activity, but anecdotally, I notice so many posts there that have basically no content. They just say “GME to the moon!” or what not. My gut tells me a lot of these are bots, but I can’t prove that.
For more on AMC and the Wallstreetbets phenonmenon, check out these posts:
- AMC Stock Is Acting Like COVID Never Happened
- Second Short Squeeze Is On As GameStop Triples in 1 Day
- Palantir Is Losing $100 Million a Month With No End in Sight
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