In this study focused on innovative Small and Medium Entities (SMEs), I investigate the impact of social media (i.e., Twitter and Facebook) information on investors’ attention. Given that investors’ attention is a scarce resource, social media disclosure can play an important role in increasing the saliency of a stock during earnings announcement. It allows managers to directly communicate to investors with low direct costs and without intermediaries. This new communication method is particularly relevant for innovative SMEs since they operate in a complex and uncertain environment, which is also characterized by a lack of media coverage. At the same time, this type of firm is often criticized for providing opaque and scarce information to outsiders, through traditional public communication channels. Moreover, it is still an open question whether investors pay attention to news conveyed through social media, especially concerning firms with little visibility. I examine SMEs listed on the AIM London stock exchange, an exchange for firms of smaller size, over the 2007-2015 period. I show that the presence on social media and the disclosure of financial information lead to higher investors’ attention. Social media communication also affects stock prices, leading innovative SMEs to strategically use social media. I document that innovative SMEs communicate more on social media when they are about to disclose bad news. This paper contributes to the literature on investors’ attention, on the burgeoning discussion around new channels of communication and their relevance for firms with low visibility and to the debate over the demand for additional information to innovative firms of smaller size.