Man Group, the world’s largest publicly-listed hedge fund, built a system to analyze daily stock-trading posts on Reddit

reddit blind community
In this photo illustration, a Reddit logo is seen displayed on a smartphone.

Man Group CEO Luke Ellis said his hedge fund has built a system that tracks popular topics on Reddit’s Wall StreetBets, the forum behind the GameStop saga in January. 

During an analyst call, Ellis said that managers of Man Group, the world’s largest publicly-listed hedge fund, will be receiving daily reports detailing the trending names or companies being mentioned on the subreddit, according to Bloomberg

The report is meant to showcase the ability of the firm, known for its quantitative analysis, to use “technology to address investment problems that humans alone can’t handle efficiently,” Ellis, on the call said, according to Bloomberg

Last week, a group of traders on WallStreetBets targeted GameStop yet again. A user by the name of “KitrosReddit” explained in a post the potential for a “Mother of all short squeezes,” laying new plans for a “gamma squeeze” on the video game retailer. 


Read the original article on Business Insider