How Social Media Users Are Trading Oil, Netflix, SunEdison And Apple
Market Prophit collects and analyzes social media commentary related to the stock market and general investing, and then develops statistics that track sentiment for both experts (Market Prophits) and the crowd.
On Friday, Benzinga had the chance to speak with Market Prophit’s CEO Igor Gonta, who shared some of the most recent trends in the social media space.
The expert first went into crude oil. He assured, “Everyone is wondering how low will it slide. With the barrage of worries from everything about oversupply, China slowdown, and dollar strength given views about a September rate hike, there has been little bullish sentiment towards the commodity.”
However, at the United States Oil Fund LP (ETF) (NYSEARCA:USO)’s current levels, both the Crowd and the Market Prophits are strongly positive, “signaling a potential temporary bottoming from the recent steep fall.”
Gonta then looked into Netflix, Inc. (NASDAQ: NFLX). He noted that, “With traditional media stocks taking a huge beating this week due to poor subscriber growth and people worried about switching over to non traditional streaming services, Netflix seems to be one of the main beneficiaries recently hitting all time highs.”
The Chief Executive assured that the Crowd remains bullish at these levels, but Market Prophits have turned negative now.
Finally, Gonta commented on Sunedison Inc (NYSE: SUNE), which fell almost 36 percent over the past couple of trading days, after announcing earnings below analyst expectations.
“While the top line seemed in line, investors are worried about increasing costs and their acquisition spree; also a complicated capital structure,” he added. “Some analysts are saying the sell-off is now overdone. After both Crowd and Market Prophit sentiment trended bearish, it currently has turned up quickly and is hovering at the neutral level but has risen dramatically in the last week.”
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