The Impact of Bullish Trends in User Online Communities on the Stock Market

Abstract

In recent years, with the popularization of smart devices and the development of network technology, the proportion of retail investors in my country's stock market is much higher than that of institutional investors. It is becoming more and more important to pay attention to the investment direction and willingness of individual investors . However, as retail investors, most of them do not have professional investment training and guidance, their investment experience is limited, their ability to identify investment information is weak, they are prone to irrational investment behavior, and there are obvious herd mentality and "herd effect". This article mainly adopts the DSSW model and the DHS model to study the situation that most retail investors in the user online community are prone to information evaluation bias when investing, which may lead to the result of investment failure and have a negative impact on rational investors in the stock market. Eventually a chain reaction occurred, stock prices fluctuated violently, and the stock market was turbulent. In addition, this article uses dummy variable regression method and wavelet analysis method, taking Baiyun Airport as an example, selects stocks with a degree of fit greater than 0.650, and conducts secondary screening of data through basic data analysis, and finally conducts multi-factor analysis to obtain the The regression model of the rising phase analyzes that the more the number of bullish trend stock reviews in the online community of users, the more excited investors are to follow the investment, and they are more willing to make large-scale investments, which will play a positive role in promoting the stock market, and the stock price will also Then rose. However, there may also be a crisis that leads to a bubble in the stock market when the forecast is wrong.