Facebook Sentiment Communication and its impact on the Stock Market Returns

Abstract

The ability of Facebook reaction to anticipate investor sentiment and explain stock market swings has drawn a lot of interest. This study investigates how the investor sentiment index affects stock market performance in the context of Tunisia. We investigate if shifts in stock market activity are a result of investor attention as measured by Facebook reaction (Like, Unlike). We use 156 weeks to test the stocks of 12 banks between 2019 and 2021.