Potential of ChatGPT in predicting stock market trends based on Twitter Sentiment Analysis

Handle

https://riunet.upv.es/handle/10251/208665

Cita bibliográfica

Mumtaz, U.; Mumtaz, S. (2024). Potential of ChatGPT in predicting stock market trends based on Twitter Sentiment Analysis. Editorial Universitat Politècnica de València. 250-258. https://doi.org/10.4995/CARMA2024.2024.17467

Titulación

Resumen

[EN] The rise of ChatGPT has brought a notable shift to the AI sector, with its exceptional conversational skills and deep grasp of language. Recognizing its value across different areas, our study investigates ChatGPT's capacity to predict stock market movements using only social media tweets and sentiment analysis. We aim to see if ChatGPT can tap into the vast sentiment data on platforms like Twitter to offer insightful predictions about stock trends. We focus on determining if a tweet has a positive, negative, or neutral effect on two big tech giants Microsoft and Google’s stock value. Our findings highlight a positive link between ChatGPT's evaluations and the following day's stock results for both tech companies. This research enriches our view on ChatGPT's adaptability and emphasizes the growing importance of AI in shaping financial market forecasts.

Fuente

6th International Conference on Advanced Research Methods and Analytics (CARMA 2024) isbn: 9788413962016

Editorial

Editorial Universitat Politècnica de València

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