Hedge all sporting bets smart reddit12/22/2023 Meanwhile, Eagle Alpha, which connects hedge-fund clients to alternative-data providers, has noticed an increase in demand for data on retail investors this month, with a specific focus on Reddit. The rapidly growing subreddit, now with over 2.4 million members, maintains a dashboard of data insights, and other users have created tools of their own to make sense of the metadata from Reddit's stock-investing community. The new tool will track ticker mentions in certain subreddits including Wall Street Bets. Thinknum, a web-scraping data provider, is in the process of building a Reddit-specific dataset after "insane client demand," according to cofounder Justin Zhen. One data scientist at a fund told Insider they created a scraping tool this weekend to monitor tickers being discussed on the site to make sure their fund's short book isn't caught in the next "YOLO" trade, parlance on the subreddit for a high-stakes wager, often involving stock options. This story is available exclusively to Business InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders.
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